Mass Megawatts Makes Progress Toward Several Solar Project Sales in Central Massachusetts

Rhea-AI Summary

Mass Megawatts (OTC: MMMW) announced positive developments regarding its solar projects, expecting to complete sales in early 2023. Projects in central Massachusetts promise a payback of 4-6.5 years, enhanced by a patent-pending solar tracker technology. The company opened a new sales office to broaden its customer outreach and has partnered to finance solar projects across 19 states. Moreover, improvements in solar tracker efficiency could elevate output by an additional 20%. Mass Megawatts aims to capture a share of the growing $3 billion solar tracker market by 2025.

Positive

• Forecasted payback of solar projects in 4-6.5 years enhances investment attractiveness.
• New sales office opened to expand market reach.
• Partnership established for financing solar projects across 19 states.
• Patent-pending technology expected to improve solar output by 20%.
• Positioned to penetrate the expanding $3 billion solar tracker market by 2025.

Negative

• None.

WORCESTER, Mass., Dec. 28, 2022 (GLOBE NEWSWIRE) -- Mass Megawatts (OTC: MMMW) www.massmegawatts.com announced that the Company is confident toward completing solar project sales in early 2023. The initial projects are located in central Massachusetts targeting towns and cities like Worcester and Westborough where the solar projects can pay for itself in 6.5 years for smaller projects. The larger projects for small businesses can pay for itself in 4 years when bonus depreciation benefits are factored into the payback. Although, the projects are much smaller than the plan that Elon Musk twittered earlier today to supply Europe with solar by using a small area of Spain, Elon Musk’s great idea for low cost solar energy powering Europe illustrates the very large potential for high growth solar power opportunities over the next thirty years.

Earlier in December, Mass Megawatts announced the opening of a sales office in a fast growing and high-tech location near central Massachusetts. The Office located at 11 Apex Drive, Suite 300A, Marlborough, MA is near Route 495 and minutes away from the Mass Pike. Mass Megawatts is expanding its reach to potential customers with recent developments like the opening of the sales office and recent improvements to bring more efficiency toward acquiring customers and installing projects. 

Mass Megawatts can help customers achieve a quick payback with its solar projects using the new patent pending solar tracker. The projects can 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 is Mass Megawatts' current focus for 2023?

Mass Megawatts is focused on completing solar project sales in early 2023, particularly in central Massachusetts.

How long is the expected payback period for Mass Megawatts' solar projects?

The expected payback period for smaller solar projects is approximately 6.5 years, while larger projects for small businesses could see payback in 4 years.

What recent development did Mass Megawatts announce in December 2022?

In December 2022, Mass Megawatts announced the opening of a new sales office in Marlborough, MA.

How is Mass Megawatts improving solar energy output?

Mass Megawatts developed a patent-pending solar tracker that aims to enhance energy production levels by improving solar panel efficiency by up to 20%.

What market opportunity is Mass Megawatts targeting?

Mass Megawatts is targeting the growing solar tracker market, anticipated to reach over $3 billion by 2025.