A homeowner in Orlando, Florida installed a 6 kWPV system using a crystalline silicon panels for a total cost of $29,000. The system is connected to the grid with a net metering plan (i. e. the homework pays for the difference in the electricity used and that produced by the system). The system produced 6500 kWhe in the first year. Assume the panels will degrade by 0.20% per year. a. If the effective rate is $0.12/kWh and assuming the rate will increase by 5% per year, find the payback period for the system. Assume the discount rate to be 5%. b. Suppose this homeowner now gets a rebate of $1.25/W from the electric power company and a 20% federal income tax credit. What is the payback period now?