Assignment 1Economic viability of Solar Water for Domestic SectorSubmission date: 28th of February 2013Submit as the hard copy (Print the RETSCREEN files)During assignment it is always good and encouraged to discuss and share the ideas but sharing the computer files (RETSCREEN files) is not allowedSolar hot water system has to be designed for a family of six persons (domestic purpose) who are currently using gas geyser, to fulfill the hot water requirements during winter season, which is 60% efficient. After investigation it was found that family is using hot water @ of ~50 ltr per person per day at the temperature of 60oC. Now the family desires to use solar water heating system instead of gas geyser, with the same water usage. In market Vacuum tube type solar water heating system are available. Rate of the solar systems are @ 170 rupees per liter of storage capacity. Area of the roof of the house is 80 m2. But the useable roof space allowed for solar water heating system is 25m2. (Use Method 2 for RETSCREEN Analysis)i. Will it be possible to rely totally on solar water or some back up will be needed? Which type of back you will suggest natural gas back up or electric back up? In any case give certain reasons for choosing that backup supported by RETSCREEN calculationii. In case if some backup is being used how much share of solar energy and how much share of backup system (annually) of total energy needed for water heating in one year? And what are the reasons for choosing specific fraction/percentage of solar energy?iii. Simple payback period and Equity Payback period iv. Internal rate of return, Net present valuev. Natural gas savings in proposed case compared to the base casevi. Compare at least three major cities of Pakistanvii. How the results will change if in the base case heating is done by electric heater (calculate only for one city)viii. Perform the sensitivity analysis and check the effect of initial cost and base case gas price on the equity pay back periodChoose the specification of solar water heating system (FrUL, Fr() and solar collector area etc) from RETSCREEN product database.Natural gas price can be used @ 550 rupees per MMBTU; And electricity price@ 13 rupees per unit. Other costs can be assumed and should the statedAssume and state any other costs (transportation cost, operation and maintenance cost etc)Use RETSCREEN help for any other referenceState any assumptions that are used during the solution