Apr 30, 2014 (ACCESSWIRE via COMTEX) — WORCESTER, MASS. / ACCESSWIRE / April 30, 2014 / – Mass Megawatts Wind Power, Inc. (OTC: MMMW) today announces plans to hire installation, electrical, and sales employees for the company’s new solar tracking technology business. Mass Megawatts is focusing in the near term on community shared solar programs and projects for businesses with most of its solar electric output used by an on-site load.
The patent pending, Mass Megawatts ‘Solar Tracking System’ (STS) is designed to increase solar energy production by approximately 25% for less than 7% additional cost than a standard stationary configuration. The new product automatically adjusts the position of solar panels to receive an optimal level of direct sunlight throughout the day. Unlike other solar tracking technologies, the Mass Megawatts STS utilizes a low-cost structure that adds stability to the overall system while improving energy production levels.
The STS utilizes an innovative structural design that combines a simple, yet robust, A-frame design with a low-cost, protective outer-wall. Using a non-electrical, and passive, tracking technology, the solar panels are automatically repositioned throughout the day as the sun’s position travels from east to west. Other tracking systems are subject to wind related structural stress and are more expensive to overcome for weather related issues. Some designs in the solar market are more expensive than the stationary units.
The STS allows Mass Megawatts to lower material costs 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. Specifically, the company plans to offer 6.25 kW rated STS units at a price that’s competitive to stationary, 5 kW systems. In the best locations with high electric prices and good incentives, this improved output translates into a 40% rate of return on investment. In other locations, the investment payback is projected to be less than three and one half years. Further, by taking advantage of a lease program or power purchase agreement (PPA) arrangement with the company, a customer may realize an immediate, positive cash flow, as immediate energy savings and/or revenues will be realized and/or exceed the monthly payments due.
Starting at 6.25 kW rated units, a Mass Megawatts STS system is appropriate for ground-level, residential and business sites, as well as, commercial, roof-top installations. Mass Megawatts coordinates all aspects of system delivery, including permitting, installation, and working to obtain any available tax incentives. They monitor the performance of each system, and provide a full, performance guarantee.
With its patent pending, Solar Tracking System, Wind Electric Power Generation system, only approximately 40 million shares issued and outstanding and very little debt, Mass Megawatts believes it is well positioned to ramp-up production in the shorter term while expanding its infrastructure to support mass-production goals in the longer term.
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. Additionally, Mass Megawatts Wind Power stock quote and Mass Megawatts stock price may be impacted by global condition. Mass Megawatts Wind Power Inc. expected and anticipated positive and negative impact on the Mass Megawatts stock price and the MMMW stock quote.