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.)

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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Question

**Photovoltaic System Payback Period Calculation:**

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?

**Calculation:**
- The photovoltaic panels will pay for themselves in approximately [ ] months.

*(Round your answer to the nearest whole number as needed.)*

**Note:** To calculate the payback period, consider the total upfront cost of the system after rebates and the monthly savings from the electricity bill.

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