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Monday, October 31, 2022 9:02:36 AM
https://www.globenewswire.com/news-release/2022/10/31/2544503/0/en/Mass-Megawatts-Announces-a-Payback-of-Three-to-Five-Year-Using-the-Patent-Pending-Solar-Tracker-in-Several-States.html
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.
Recent MMMW News
- Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • InvestorsHub NewsWire • 06/28/2024 11:30:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/15/2024 03:44:27 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/08/2024 12:10:37 PM
- Mass Megawatts Announces Several New Product Lines with Lowest and Competitive Prices as a Source of Generating Revenue in this Fiscal Quarter and to Help Market our Patent Pending Solar Tracker • InvestorsHub NewsWire • 02/22/2024 01:00:00 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 02/12/2024 11:01:42 AM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 02/09/2024 06:02:22 PM
- Form PRE 14A - Other preliminary proxy statements • Edgar (US Regulatory) • 01/26/2024 10:03:45 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/26/2024 09:20:13 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 12/06/2023 05:30:56 PM
- Mass Megawatts Announces LOWEST PRICE GUARANTEE on Solar Project Sales and Further Cost Reductions Using our Patent Pending Technologies • InvestorsHub NewsWire • 11/28/2023 01:00:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 09/08/2023 05:05:04 PM
- Mass Megawatts Announces Improvements Bringing Potential Project Payback Within 3 Years Using the Cost Cutting New Patent Pending Concentrated Solar Power Sterling Engine Technology • InvestorsHub NewsWire • 09/06/2023 11:45:37 AM
- Mass Megawatts Announces Improvement to Increase Power Output of an Additional Twenty Percent to the Recently Announced Innovations. Company Seeking UL 3703 Certification of Solar Trackers for Turbocharging Sales • InvestorsHub NewsWire • 08/23/2023 11:32:40 AM
- Mass Megawatts Generated Five Planned Solar Project Sales During August • InvestorsHub NewsWire • 08/11/2023 11:26:20 AM
- Mass Megawatts Plans to Build a Small Community Solar Project With its Newest Technology • InvestorsHub NewsWire • 08/07/2023 12:55:13 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 07/25/2023 08:21:47 PM
- Form QUALIF - Notice of Qualification [Regulation A] • Edgar (US Regulatory) • 07/24/2023 04:15:07 AM
- Form 1-A POS - • Edgar (US Regulatory) • 07/19/2023 07:13:54 PM
- Form 1-A POS - • Edgar (US Regulatory) • 07/19/2023 05:25:55 PM
- Mass Megawatts Plans to Apply for OTCQB Status • InvestorsHub NewsWire • 07/12/2023 11:30:00 AM
- Form 1-A POS - • Edgar (US Regulatory) • 07/11/2023 08:38:29 PM
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Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM