A 75-hp (shaft output) motor that has an efficiency of 91.0 percent is worn out and is to be replaced by a high-efficiency motor that has an efficiency of 95.4 percent. The motor operates 4428 hours a year at a load factor of 0.75. Taking the cost of electricity to be $0.12/kWh, determine the amount of energy and money saved as a result of installing the high-efficiency motor instead of the standard motor. Also, determine the simple payback period if the purchase prices of the standard and high-efficiency motors are $5449 and $5520, respectively. Assume that the load factor of the motor remains constant at 0.75.

An external consultant recommends that a plant installs a bank of capacitors for power factor correction. this will reduce the peak electrical demand charges by an average of 93 kw every month. the plant current pays $13 per kw in peak demand charges. the capacitor bank will include 223 kw of fixed capacitors, and 183 of variable capacitors. the fixed capacitors cost $59 per kw, and the variable capacitors will cost $65 per kw. the consultant charges 21% of the equipment costs to install the capacitors. because this project will reduce the demand for the electric utility, they are prepared to provide a one-time rebate of $42 per kw of reduced demand. what is the simple payback period for this project (in years)?