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A homeowner is considering whether to invest in solar panels. This home owner has gathered the following information for her town: The average cost for
A homeowner is considering whether to invest in solar panels. This home owner has gathered the following information for her town: The average cost for residential energy is $0.124/kWh. The government subsidizes 70% of whatever is invested by the household Each square foot of panel produces 19.13 kWh every year. The cost of installation per square foot of solar panel is $93.91. The house has 350 square feet of roof space. What is the breakeven point in years for the installation of solar panels? Assume the homeowner's interest rate is 6% per year.||
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