Mass Megawatts Announces a Payback of Three to Five Year Using the Patent Pending Solar Tracker in Several States

Rhea-AI Summary

Mass Megawatts (OTC: MMMW) announces its new patent-pending solar tracker that can enable solar projects to recoup costs within 3-5 years in select states. The company has partnered to finance low-cost solar installations across 19 states, allowing 100% financing for eligible projects. Recent advancements include a 20% increase in solar power output and a 7% improvement in energy production through innovative tracking technology. Mass Megawatts aims to capture a portion of the $3 billion solar tracker market by offering cost-effective solutions compared to competitors.

Positive

• New patent-pending solar tracker offers payback in 3-5 years.
• Partnership for financing solar projects in 19 states, enabling 100% financing.
• 20% increase in solar output and a further 7% improvement in energy production.
• Positioned to capture growth in a projected $3 billion solar tracker market.

Negative

• None.

WORCESTER, Mass., Oct. 31, 2022 (GLOBE NEWSWIRE) -- Mass Megawatts (OTC: MMMW) www.massmegawatts.com announces the ability for solar projects using the new patent pending solar tracker to pay for itself in three to five years at many locations in states like Massachusetts, New York and Connecticut. Most of the components of both the solar tracker and the non-solar tracker equipment have twenty-year manufacture guarantees from large reputable suppliers. The most expensive items like the solar panels, inverters, and tracker motors are supported by the large suppliers.

To help complete the new solar power projects, Mass Megawatts recently developed a partnership for installing and financing low-cost solar projects in 19 states. Many solar projects will be eligible for 100 percent financing. Under the new program, we can also streamline the process toward delivering custom proposals and the best plan for the customer.

In other news, Mass Megawatts recently announced the 20 percent solar power output improvement in addition to the previously announced 37% increased power output with an innovative redesign of its patent pending solar tracker to maximize the albedo or solar reflection effect of receiving electric power output from the backside of solar panels that can accept solar rays from both sides of the solar panel. The cost saving improvement is possible since the patent pending solar tracker has the competitive advantage of using a low-cost method for protection against high wind and hurricane related events. The solar panels attached to the tracker platform would force the face of the panels to turn 90 degrees from the direction of the wind.  The system allows a slip feature during high wind conditions. Once the wind returns to less dangerous levels, the tracker resumes its operations. The “yaw sideways” technique avoids the need for additional material and cost needed to protect against high wind events.

In addition to the increased power output from enhancing the solar panel backside reflection, Mass Megawatts also announced recently that it has enhanced its patent-pending, Solar Tracking technology to improve energy production levels by an additional 7% with the adjustment of the panels based on the sun’s altitude each day.  These adjustments are also expected to improve the power generation level of the solar panels.

Mass Megawatts is developing a patented pending, Mass Megawatts ‘Solar Tracking System’ (STS) which is designed to automatically adjust the position of solar panels throughout the day to receive an optimal level of direct sunlight. Unlike other solar tracking technologies, the Mass Megawatts STS utilizes a low-cost structure that adds stability to the overall system while also improving energy production levels. The STS utilizes a proprietary mechanical innovation to limit dynamic and static loading on the tracker, which can occur during periods of high wind and extreme weather. The technology reduces wind-related stresses and system downtime. The STS allows Mass Megawatts to lower the cost of material and reduce the number of solar panels needed to generate the rated capacity. Due to this advantage, Mass Megawatts STS systems can deliver more solar power production at a price similar to lower-capacity, stationary systems.

The key driver to future sales is the use of solar trackers being known to reduce the cost of solar powered electricity. Although Mass Megawatts in 2023 is aiming to achieving a very small fraction of global demand of this specific solar market segment, the solar tracker market is anticipated to be worth more than $3 billion by 2025 expanding from the current market size of about $2 billion. Mass Megawatts sees an opportunity to be part of the growing solar tracker market with a lower cost product than the trackers marketed by other solar tracker companies in this high growth segment of the solar energy market.  A solar tracker is a method of tracking the sun throughout the day for a photovoltaic (PV) system for increasing solar energy output throughout the day. The market is anticipated to have substantial growth due to the growing need for renewable energy.   

With its patent pending, Solar Tracking System, Mass Megawatts believes it is well positioned for expanded production and supporting its revenue generation goals in the longer term.

Product information and sales inquiries can be made through the company’s contact page at www.massmegawatts.com

This press release contains forward-looking statements that could be affected by risks and uncertainties. Among the factors that could cause actual events to differ materially from those indicated herein are: the failure of Mass Megawatts Wind Power, also known as Mass Megawatts Windpower, to achieve or maintain necessary zoning approvals with respect to the location of its power developments; the ability to remain competitive; to finance the marketing and sales of its electricity; general economic conditions; and other risk factors detailed in periodic reports filed by Mass Megawatts Wind Power.

Contact:

Mass Megawatts Wind Power, Inc. 

info@massmegawatts.com

www.massmegawatts.com

FAQ

What are the financial benefits of Mass Megawatts’ new solar tracker?

Mass Megawatts' new solar tracker allows solar projects to pay for themselves within 3-5 years, making them financially attractive.

How does Mass Megawatts plan to finance solar projects?

Mass Megawatts has developed a partnership for installing and financing low-cost solar projects in 19 states, offering 100% financing for eligible projects.

What improvements has Mass Megawatts made to its solar tracker technology?

The company announced a 20% increase in output and an additional 7% improvement in energy production through its innovative solar tracking technology.

What is the market potential for solar trackers according to Mass Megawatts?

Mass Megawatts aims to capture a share of the solar tracker market, projected to grow from $2 billion to over $3 billion by 2025.

How does the new solar tracking system enhance energy production?

The system adjusts the position of solar panels to receive optimal sunlight, increasing energy production and reducing material costs.