The annual average of solar photovoltaic energy in Phoenix is 6,720 Wh/m^2/day. You have an area of 500 m^2 on the roof of your home to put

solar panels. The solar panels you chose will convert 15% of its energy into

electricity. The cost of electricity is $0.12/kWh. How much electricity will

be generated in a year? How much money will be saved? *

The amount of money saved is $22,075.2

Explanation:

The solar voltaic energy in Phoenix, S = 6,720 Wh/m²/day

The area on the roof available for solar panels, A = 500 m²

The percentage of the energy received by the solar panels converted into electricity, η = 15% = 0.15

The cost of electricity, C = $0.12/kWh

The number of days in a year, t = 365 days

Therefore, the maximum area covered by the solar panel = A = 500 m²

The total solar photovoltaic energy received by the solar panels, 'E', in a year is given as follows;

E = S × A × t

By plugging in the values of the variables, we get;

E = 6,720 Wh/m²/day × 500 m² × 365 days = 1,226,400,000 Wh

The electrical energy generated, = η × E

∴ = 0.15 × 1,226,400,000 Wh = 183960000 Wh = 183,960 kWh

The amount of money saved = The cost of electricity generated = C ×

C × = $0.12/kWh × 183,960 kWh = $22,075.2

∴ The amount of money saved = C × = $22,075.2

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