Q$1.$ Consider a PV solar power project with the following parameters:

Initial cost: $$18$M for hardware $+$$$14M$ for installation.

The yearly energy produced is $24$ millions kWh which will bring a benefit of $$2\mathrm{.}9M$ per year

$$0\mathrm{.}5M$ per year is used for operation and maintenance.

At the end of the $25$ year project time duration, a net expenditure of $$1M$ will be required for removal and

site cleaning.

The MARR is $7\%.$

a$)$ Calculate the NPV for this investment.

b$)$ Recalculate the NPV$,$ this time assuming that an investment tax credit of $20\%$ for hardware and $10\%$ for

installation costs are available.

c$)$ Calculate the IRR for this investment $($with tax incentive$).$

d$)$ Calculate the levelized cost of energy, LCOE $($without tax incentive$)$