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Quickly and the cost savings

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Your energy bill is expected to be $200 next month (month 1) and is expected to grow at 0.5% per month for the foreseeable future (aka forever). You read recently that installing solar panels on your roof will reduce your energy bill by 25% (so month 1 would be $150) and decrease the growth of the bill to 0.25% per month for the foreseeable future. Assuming this is true, you plan to stay in the house for the foreseeable future, and that the applicable discount rate is 12% per year, from a pure financial perspective what is the most you'd pay today to have solar panels installed immediately? Assume the panels could be installed quickly and the cost savings would start in 1 month.

A. $10,000.00

B. $11,666.67

C. $15,000.00

D. $17,667.67

E. $20,000.00

Reference no: EM131866866

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