A homeowner is considering whether to invest in solar panels. This home owner has gathered the...
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A homeowner is considering whether to invest in solar panels. This home owner has gathered the following information for her town: • she currently pays her energy supplier an average of S0.124/unit for her electricity.with the panels, she no longer have to pay this • The government subsidizes 70% of whatever is invested by the household. Each square foot of panel produces 28.28 units of electricity every year. • The cost of installation per square foot of solar panel is S98.00 The house has 350 square feet of roof space. What is the breakeven point in years for the installation of solar panels? Assume the homeowner's interest rate is 6% per year. A homeowner is considering whether to invest in solar panels. This home owner has gathered the following information for her town: • she currently pays her energy supplier an average of S0.124/unit for her electricity.with the panels, she no longer have to pay this • The government subsidizes 70% of whatever is invested by the household. Each square foot of panel produces 28.28 units of electricity every year. • The cost of installation per square foot of solar panel is S98.00 The house has 350 square feet of roof space. What is the breakeven point in years for the installation of solar panels? Assume the homeowner's interest rate is 6% per year.
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Breakeven point in years for installation of solar panel is 7 years 11 months Exp... View the full answer
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