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Mass Megawatts (MMMW) Announces Aluminum Micro Smelter as Anchor for its Small Community Solar Project

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Mass Megawatts (OTC Pink: MMMW) announced a new 160 kW community solar project in Worcester, Massachusetts, aimed at powering an aluminum recycling facility. This project utilizes a patent-pending solar tracking system designed to maximize sunlight exposure, thereby improving energy efficiency. The project is expected to pay for itself within 3-4 years, benefitting from state and federal incentives. Additionally, Mass Megawatts plans to showcase its solar tracking technology through demonstration units to boost sales opportunities in the rapidly growing solar tracker market, projected to reach over $3 billion by 2025.

Positive
  • Projected payback period of 3-4 years based on current incentives.
  • Utilizes a proprietary solar tracking system that lowers costs and increases efficiency.
  • Access to state and federal financial incentives enhances project viability.
  • Potential to capture a share of the expanding solar tracker market, currently valued at $2 billion.
Negative
  • Dependence on zoning approvals for power developments poses a risk.
  • Market competition could impact financial performance.

BOSTON, Mass., Jan. 10, 2022 (GLOBE NEWSWIRE) -- Mass Megawatts (OTC Pink: MMMW) www.massmegawatts.com announces that much of its electricity generated from the recently announced 160 kW community solar project will be used to power a small aluminum recycling facility. The solar energy will power at least one electric induction furnace. The electric current goes through an inductor of copper coil and the aluminum to be heated is placed inside the inductor. The small 160kW kW community solar project using the patent pending solar tracker is 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.

The patented pending, Mass Megawatts ‘Solar Tracking System’ (STS) 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 also uses 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 can deliver more solar power production at a price similar to lower-capacity, stationary systems.

In other news, Mass Megawatts announced plans to have two small solar units to explain the cost and output of the additional solar tracking features. The two units with one unit demonstrating the tracker and another unit being nearly identical without the tracker should help sell the new technology to many potential purchasers who would not easily be convinced to get involved with a new technology.

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 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 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 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, 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 the significance of the 160 kW community solar project by Mass Megawatts?

The project aims to supply power to a small aluminum recycling facility and features a solar tracking system to enhance energy efficiency.

How long will it take for the solar project to pay for itself?

The project is projected to pay for itself in approximately 3-4 years, utilizing state and federal incentives.

What are the projected growth prospects for the solar tracker market?

The solar tracker market is expected to grow from about $2 billion to over $3 billion by 2025, offering opportunities for Mass Megawatts.

What risks does Mass Megawatts face with its new solar project?

Risks include the need for necessary zoning approvals and market competition affecting financial performance.

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