The annual average insolation (energy of sunlight per unit area) striking a fixed solar panel in Buffalo,
Question:
The annual average insolation (energy of sunlight per unit area) striking a fixed solar panel in Buffalo, New York, is 200 W ⋅ m−2, while in Phoenix, Arizona, it is 270 W ⋅ m−2. In each location, the solar panel converts 15% of the incident energy into electricity. Average annual electricity use in Buffalo is 6000 kW ⋅ h at an average cost of $0.15 kW ⋅ h, while in Phoenix it is 11,000 kW ⋅ h at a cost of $0.09 kW ⋅ h.
(a) In each city, what area of solar panel is needed to meet the average electrical needs of a residence?
(b) In each city, what is the current average annual cost of electricity?
(c) If the solar panel has a lifetime of 20 years, what price per square meter of solar panel can be justified in each location? Assume that future increases in electricity prices offset the cost of borrowing funds for the initial purchase, so that you need not consider the time value of money in this analysis.
Step by Step Answer:
Introduction To Chemical Engineering Thermodynamics
ISBN: 9781259696527
8th Edition
Authors: J.M. Smith, Hendrick Van Ness, Michael Abbott, Mark Swihart