The lighting needs of a storage room are being met by 6 fluorescent light fixtures, each fixture

Question:

The lighting needs of a storage room are being met by 6 fluorescent light fixtures, each fixture containing four lamps rated at 60 W each. All the lamps are on during operating hours of the facility, which are 6 AM to 6 PM 365 days a year. The storage room is actually used for an average of 3 h a day. If the price of electricity is $0.08/kWh, determine the amount of energy and money that will be saved as a result of installing motion sensors. Also, determine the simple if the purchase price of the sensor is $32 and it takes 1 hour to install it at a cost of $40. Payback Period
Payback period method is a traditional method/ approach of capital budgeting. It is the simple and widely used quantitative method of Investment evaluation. Payback period is typically used to evaluate projects or investments before undergoing them,...