An aquarium installed 5 EV (electric vehicle) chargers in their parking lot. Each charger costs $2,500...

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An aquarium installed 5 EV (electric vehicle) chargers in their parking lot. Each charger costs $2,500 to install. EV's charge based on kWh. The aquarium charges $0.25 per kWh. The aquarium installed solar panels two years ago and use the energy produced from them to supply the EV chargers. Since the cost to maintain the panels is already covered in their expenses it is essentially free energy to them that they sell to EV chargers. In the table below the logged kWh for each charger is shown for the last year. EVs are expected to grow over the next 5 years and therefore they expect a 10% increase in total kWh's used each year. How many years will it take for the aquarium to make a minimum of 15% on the original investment of the EV chargers? Provide 1 sentence explaining your reasoning. You can provide your answer in whole years. So, you can solve for the IRR in each year until you find a value greater than 15%. EV Charger 1 2 3 4 5 kWh's in Yr 1 5,000 5,500 6,500 3,200 4,000 An aquarium installed 5 EV (electric vehicle) chargers in their parking lot. Each charger costs $2,500 to install. EV's charge based on kWh. The aquarium charges $0.25 per kWh. The aquarium installed solar panels two years ago and use the energy produced from them to supply the EV chargers. Since the cost to maintain the panels is already covered in their expenses it is essentially free energy to them that they sell to EV chargers. In the table below the logged kWh for each charger is shown for the last year. EVs are expected to grow over the next 5 years and therefore they expect a 10% increase in total kWh's used each year. How many years will it take for the aquarium to make a minimum of 15% on the original investment of the EV chargers? Provide 1 sentence explaining your reasoning. You can provide your answer in whole years. So, you can solve for the IRR in each year until you find a value greater than 15%. EV Charger 1 2 3 4 5 kWh's in Yr 1 5,000 5,500 6,500 3,200 4,000

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To calculate the number of years it will take for the aquarium to make a minimum of 15 return on the ... View the full answer