Feasibility Study Assignment: Establishing a Solar Energy ProjectBackground:You are part of a team of engineers interested insustainable energy solutions. Your team has beentasked with evaluating the feasibility of establishing asolar energy project in a specific location. The goal is todetermine whether investing in solar energy iseconomically viable and environmentally beneficial.Assignment Overview:$1.$ Project Description:o Choose a specific site $($e$.$g$.,$ a university campus, a residential area, or anindustrial park$)$ where the solar energy project will be implemented.o Describe the project$$s scope, including the capacity of the solar panels,expected energy generation, and the purpose $($e$.$g$.,$ powering buildings,reducing grid dependency$)\mathrm{.}2.$ Market Research and Demand Assessment:o Investigate the local energy market. What is the demand for electricity in thechosen area?o Analyze existing energy sources $($e$.$g$.,$ fossil fuels, hydroelectric power$)$ andtheir costs.o Estimate the potential market share for solar energy$\mathrm{.}3.$ Technical Feasibility:o Assess the solar resource availability $($sunlight hours, irradiance levels$)$ at thechosen site.o Evaluate the technical aspects, such as panel efficiency, installationrequirements, and maintenance costs.o Consider any regulatory or permitting challenges related to solarinstallations$\mathrm{.}4.$ Financial Analysis:o Calculate the initial investment cost $($solar panels, inverters, mountingstructures, etc.$).$o Estimate operational costs $($maintenance$,$ cleaning, monitoring$).$o Develop a cash flow projection over the project$$s lifespan $($typically $20-25$years$).$o Use financial metrics $($NPV$,$ IRR, payback period$)$ to evaluate the project$$sprofitability$.$ Calculate the payback period and the net present value.

$5.$ Environmental Impact Assessment:o Quantify the environmental benefits $($reduced greenhouse gas emissions,conservation of natural resources$)$ compared to conventional energysources.o Discuss any potential negative impacts $($e$.$g$.,$ land use, disposal of panels$)\mathrm{.}6.$ Risk Analysis:o Identify risks associated with the project $($e$.$g$.,$ technology obsolescence,regulatory changes, weather$-$related risks$)\mathrm{.}7.$ Recommendation:o Based on your analysis, recommend whether the solar energy project shouldproceed.o Justify your recommendation with clear evidence from your feasibility study.Deliverables:$1.$ Feasibility Report:o A well$-$organized report summarizing your findings.o Include tables, charts, and graphs to support your analysis.o Address each aspect of the feasibility study$\mathrm{.}2.$ Presentation:o Upload a video presentation with all team members.o Prepare a concise presentation for stakeholders $($faculty$,$ investors, orcommunity members$).$o Highlight key points, benefits, and risks$\mathrm{.}3.$ Participation Chart:o At the end of the report include a chart or table with the activities that eachteam member participated in$.$ Who did what.o Individually send an evaluation of your teammates to your instructor.Grading Criteria: See rubricRemember to collaborate effectively with your team members and apply engineeringeconomic principles