Julie is considering installing solar photovoltaic panels on the roof of her house. Her monthly electricity bills currently average $60. The cost of installing a photovoltaic system is $18,000; however, she expects a 30% reduction this cost due to tax credits and local rebates. Assuming all of her electrical needs are met by the new system and neglecting possible revenue when the system puts electricity back into the grid, what is the approximate payba period for the photovoltaic system? The photovoltaic panels will pay for themselves in approximatelymonths. (Round your answer to the nearest whole number as needed.)
Julie is considering installing solar photovoltaic panels on the roof of her house. Her monthly electricity bills currently average $60. The cost of installing a photovoltaic system is $18,000; however, she expects a 30% reduction this cost due to tax credits and local rebates. Assuming all of her electrical needs are met by the new system and neglecting possible revenue when the system puts electricity back into the grid, what is the approximate payba period for the photovoltaic system? The photovoltaic panels will pay for themselves in approximatelymonths. (Round your answer to the nearest whole number as needed.)
Chapter12: Sequences, Series And Binomial Theorem
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Transcribed Image Text:Julie is considering installing solar photovoltaic panels on the roof of her house. Her monthly electricity bills currently average $60. The cost of installing a photovoltaic system is $18,000; however, she expects a 30% reduction in
this cost due to tax credits and local rebates. Assuming all of her electrical needs are met by the new system and neglecting possible revenue when the system puts electricity back into the grid, what is the approximate payback
period for the photovoltaic system?
The photovoltaic panels will pay for themselves in approximately months.
(Round your answer to the nearest whole number as needed.)
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