A company is considering installing solar panels on its roof. The project will cost $656 thousand if it is installed now. It will save $72 thousand of energy cost each year. The life span of the panels is 20 years.

If the company waits a year to install the panels, the cost of installation will decrease by $16 thousand, but everything else will remain the same (e.g., life span, energy bills saving).

The opportunity cost of capital is 6.2% per year.

The net present value of the solution that the firm should adopt is $______ thousand.