The 50kW energy system in the office complex operates for 12 hours a day and initially cost 10,000 $ to set-up. The system needs to be serviced every 2 years at a cost of 2000 $. If the lifespan of the system is 10 years without any salvage (or re-sale) value, calculate the Total Lifecycle Cost and Levelized Cost of Energy of the system. Assume that the cost of energy is $ 0.23/kWh and that the cost of electricity is paid at the end of each year. Assume also that the discount rate is 8%.

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