BOSTON, MA, Nov. 19, 2021 (GLOBE NEWSWIRE) -- Mass Megawatts Wind Power, Inc. (OTC Pink: MMMW) has continued to make progress toward reducing the cost of solar powered electricity with two recent developments. It would improve the cost reduction of electricity with the Mass Megawatts’ solar tracker which increases power output by 30 percent for less than 10 percent additional cost. One development is the availability of ultra-white paint using barium sulfate particles developed by researchers at Purdue University. The paint can be used on a roof of a solar units with solar tracking placed on rooftops with the purpose of reflecting energy producing light on the backside of solar panels with two sides. The two-sided (two faced) panels are known as bifacial solar panels within the industry. The paint is more than 98 percent reflective. It is an improvement from the best paint on the market being about 85% reflective. The other development is a decision earlier this week by the U. S. Court of International Trade to re-instate the exclusion of two faced or bifacial solar panels from the recently lowered 15% Section 201 tariffs of solar panels imported primarily from Asia.
Earlier this month, Mass Megawatts announced a 160kW kW project using the patent pending solar tracker taking advantage of the finance incentives of developing on a brownfield area or location with environmental challenges. Although this project is outside the designated opportunity zone which would also provide incentives for low-income communities, larger projects are being planned in the same neighborhood that are inside in geographical location designated as an opportunity zone. Those projects would take advantage of government incentives for selling to low-income electric users. Most importantly, the use of virtual net metering protects the finance interest of the project by having the actual project at a different location than the residence of the low-income customer. If the electricity user cannot pay the electric bill, it would be easier to redesignate another user for maintaining the revenue stream of that solar power unit.
The project is projected to have a pay for itself in about three to four years based on Massachusetts electric prices with current federal and state incentives. The 160-kilowatt project is designed to be able to reduce the cost of solar power by employing a furling technology borrowed from wind technology for protection in the case of high wind events. The technique improves the efficiency of solar arrays without adding significant additional expense. Mass Megawatts is responsible for the site development, fabrication, installation, and the interconnection obligations of the solar project. The solar project is in a low-income area in Worcester, Massachusetts.
In other recent news, Mass Megawatts began construction of two solar power systems to demonstrate the benefits of the company’s patent-pending, Solar Tracker technology. The two systems are being constructed at the same site in Worcester Massachusetts. They will be identical, except that one system will include the company’s Solar Tracker technology, while the other will not. The performance of these systems will be compared to demonstrate that the Solar Tracker provides a 30% improvement in power generation with less than a 10% increase in cost.
Each solar power system will contain six, 300 watt rated panels. The solar power components in each system will be identical, including their purchase date, the manufacturer, and model numbers. The units will be constructed adjacent to one another, ensuring that the environmental conditions are also the same. Power generation levels from both units will be monitored and compared to conclusively show the positive impact of the solar tracking technology.
The company’s patented pending, Solar Tracker is designed to automatically adjust the position of solar panels throughout the day to directly face the sun as it travels from East to West. This can significantly boost energy production levels of a solar power system while reducing the payback period for solar power investments.
Unlike other solar tracking technologies, the Mass Megawatts Solar Tracker utilizes a low-cost framework that adds stability to the overall system, while improving energy production levels. This reduces the number of solar panels needed to generate the rated capacity. Due to this advantage, Mass Megawatts can deliver more solar power at a lower cost when compared to traditional, stationary systems. Mass Megawatts believes that their tracking technology provides a competitive advantage that will soon become a standard in the solar power industry. The company is continuing to plan for residential and commercial installations throughout the country.
The global demand for solar tracking is anticipated to grow from the current market size of $2 billion to more than $3 billion by 2025, with demand being fueled by the growing need for clean, renewable energy sources. Mass Megawatts sees an opportunity to be leader in this industry by delivering a reliable, low-cost solution. With its patent pending, Solar Tracking and Wind Electric Power Generation systems, and very little debt, Mass Megawatts believes it is well positioned to expand production and meet its revenue generation goals in both the near and long terms.
Product information and sales inquiries can be made through the company’s contact page at www.massmegawatts.com and the e-mail address on the Website.
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 (MMMW), 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 (MMMW).