NB Power wants to assess the opportunity to install and use a photovoltaic system to produce electricity from solar energy. The unit cost of electricity currently produced by the thermal power plant is $0.06 per kilowatt-hour. The photovoltaic system is characterized by the following:
Batteries must be replaced every 5 years while power control is replaced every 10 years.
Assuming a service life of 20 years, annual interest rate of 10%, capacity of the photovoltaic system of 30 kilowatt-hours per day and ignoring the installation cost, should NB Power implement the system?
Definitions:
Erosion
A method where natural powers transport soils, rocks, or substances in solution from their original place to a new location.
Deposition
Deposition is the geological process by which sediments, minerals, and particles are accumulated or laid down in new locations, often by water, wind, or ice.
Sediment Particles
Small fragments of rock, mineral, or organic materials that are transported and deposited by wind, water, or ice.
Erodes Material
The process by which earth, rock, or other materials are worn away by natural forces such as water flow, wind, or ice.
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