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In: Economics

As an engineer, you are asked to choose between a PV panel system and a wind...

As an engineer, you are asked to choose between a PV panel system and a wind turbine for your site. PV panel system costs 1,000,000 USD to implement while the cost of the wind turbine system is 600,000 USD. PV panels have a lifetime of 20 years, and wind turbine lifetime is ten years. The annual operation and maintenance cost of PV is 50,000 USD, and wind turbines are 30,000 USD. From the annual electricity generation, PV panels are making 200,000 USD every year, while this amount is 150,000 USD for the wind turbine. The salvage value of the PV is 75,000 USD, and the salvage value of the wind turbine is 50,000 USD. The interest rate is 12%.

a) Compare the annual worth of PV and wind turbines.

b) Compare the payback period of PV and wind turbines.

c) Compare the Benefit/Cost ratio of PV and wind turbines.

d) Select one option (PV or turbine) for your site. Include an explanation of why you select that option.

Solutions

Expert Solution

The computation is done as under:

Rahul Sunny answered 8 months ago
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