Question: For 2 0 2 3 - 2 0 2 4 , the cost of the solar PV system is $ 3 per Watt. A single

For 2023-2024, the cost of the solar PV system is $3 per Watt. A single family house plans to
install a PV system of 3000 Watt, with 20% down payment and 80% for a 30-year-loan at an
interest rate of 7%. Assume the inflation rate is 5% and the average annual maintenance cost
is $500. Please calculate the life cycle cost of the PV system in its life of 30 years. If the system
can generate 8000 kWh electricity annually and sell this to the power plant at a price of
$0.15kWh, would you recommend the installation from the economic perspective and why?
For 2 0 2 3 - 2 0 2 4 , the cost of the solar PV

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