Answer Happy

9. In late December of 2019 your city's new laws require buildings like your 25-unit co-op to reduce their GHGs by at least 40% by the end of 2030. Your building concludes this can be accomplished by converting from centralized oil-fired steam heat to individual multisplit heat pumps in each apartment. The co-op board decides to begin saving up for such an installation, and estimates that after utility rebates, it will cost $30,000 per apartment in 2030. Starting in January of 2020, how much should it place in an account yielding 4% per year in order to have enough money to fund the installation at the end of 2030? (5 points)
Conversion Factors Electricity 3,412 Btu/kWh 100,000 BTU/Therm Natural Gas #2 Oil 139,400 Btu/Gal # 4 Oil 145,600 Btu/Gal #6 Oil 153,600 Btu/Gal Ethane Steam Water 22,323 BTU/lb 1,200,000 BTU/Mlb 8.33 Lb/gal 748 gal/hcf Pwater = 1,000 kg/m³ Cp, water = 1.0 Btu/lb-"F PAIR = 1.225 kg/m³ Cp, air = 0.24 Btu/lb-"F 1 ton of cooling = 12,000 Btu/hr For natural gas: 100 cu.ft. = 1 ccf = 103,700 Btu = 1.037 Therms The water provided by the local utility is always 55°F HDD base temperature is 65°F The cost of capital is 5% 1 ton of weight = 2,000 pounds Cost per Unit ($) $0.25 /kWh $2.50 /Therm $2.75 /Gal $2.55 /Gal $3.15 /Gal $0.16 /Ib $54.00 /Mlb $10.10 /hcf