A House at 40ºN Latitude Has a Roof of Dimensions $17 \%$

question 11

Essay

A house at 40ºN latitude has a roof of dimensions 8 m by 15 m. This area is covered with photovoltaic panels at the optimal fixed angle with an efficiency of $17 \%$ . Assuming average sky conditions, what is the annual energy production from this installation? If this electricity were generated by a coal-fired thermal plant operating at $38 \%$ efficiency, how much coal would be needed? On the basis of this comparison, what is the annual reduction (in kilograms) of $\mathrm { CO } _ { 2 }$ that results from this use of photovoltaics?

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Definitions:

Strike Price

The fixed price specified in an options contract at which the holder can buy or sell the underlying asset.

Black-Scholes Model

A mathematical model used for pricing European-style options, estimating the variation over time of financial instruments.

Call Option

A deal in the financial industry that bestows upon the buyer the latitude, but exempts them from the necessity, to acquire stocks, bonds, commodities, or other assets at a price fixed in advance, within a predetermined time frame.

Warrants

Financial instruments that give the holder the right, but not the obligation, to buy a company's stock at a specific price before a specified date.