The northern part of the United States, as Figure 8.2 shows, has a yearly 24-hour average solar insolation that is typical of the average value worldwide. Using this worldwide average, consider the economics of a photovoltaic installation. If the photovoltaic efficiency is 20% and a payback period of 3 years is expected (exclusive of the cost recovery factor), what is the maximum acceptable installation cost per W? Assume electricity costs $0.10 per kWh.

The northern part of the United States, as Figure 8.2 shows, has a yearly 24-hour average solar insolation that is typical of the average value worldwide. Using this worldwide average, consider the economics of a photovoltaic installation. If the photovoltaic efficiency is 20% and a payback period of 3 years is expected (exclusive of the cost recovery factor), what is the maximum acceptable installation cost per W? Assume electricity costs $0.10 per kWh.