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A states legislation provides tax credits for solar systems. The rules state that the life...

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Accounting

A states legislation provides tax credits for solar systems. The rules state that the life cycle fuel saving must not exceed the total present worth of the costs of the system within a 25 year period. A solar water heater installed on a house costs a total of $1550, it is expected to meet 60% of an annual load of 19 GJ. The back-up energy source is electricity at $0.045/kWhr average. The rule specify that an inflation rate of 12%/year and a discount rate of 7%/year shall be used. Will this heat meet the criterion?

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