Worcester, Massachusetts--(Newsfile Corp. - March 5, 2021) - Mass Megawatts (OTC Pink: MMMW) today announced the first sale of a solar unit with our patent pending solar tracker. The 6.25 kilowatt unit that Mass Megawatts sold reduces 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 small solar project. The solar unit will contribute to the electrical requirements of a small commercial facility in Armstrong Township, Pennsylvania.
The patented pending, Mass Megawatts 'Solar Tracking System (STS)' (improved version on website soon) 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 related recent news, the company plans to open a sales office in Florida during the early months of 2021 in order to take advantage of the fast-growing solar market in the state. The sales operation includes the sales of both traditional stationary solar units and solar projects including the patent pending solar tracker. Initially, the Florida operations would comprise no more than nine employees within a short period of time. The sales effort plans include a sales manager, assistant sales manager, field employees to identify potential sales, and other employees to close the sales. Installations of the solar projects would be done either in house or outsourced on a case-by-case basis. The use of our patent pending solar tracker would only be used on ground mount or flat roof projects.
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 2021 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. In order to increase 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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/76193
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FAQs
Nowadays, standard residential solar panels are 500 watts. Therefore, you would need two thousand 500-watt solar panels to reach an energy output of one megawatt.
How many homes can 1 MW of solar power? ›
One solar megawatt can power over 250 homes in sunny states like New Mexico, California and Hawaii, whereas one solar megawatt can only power around 100 homes in a low-sunshine location like Washington.
How many acres for 1 megawatt of solar? ›
According to GTM Research, 1 MW solar farms require 6–8 acres to accommodate all the necessary infrastructure and space between panel rows.
Are solar farms worth it? ›
They further argue that the benefits of solar to rural communities are numerous, including that the farms: Generate emission-free renewable power to mitigate climate change. Increase tax revenue for local and state governments. Provide good jobs.
How profitable is a 1 MW solar farm? ›
In general, you can expect to generate between $40,000 and $50,000 per year in revenue from a 1 MW solar power plant. The net profit from your solar power plant will depend on the factors listed above.
How many solar panels do I need for 4000 kWh per month? ›
This information can be obtained from a solar panel manufacturer or a local solar energy provider. For example, if a solar panel in your location produces an average of 4 kWh per day, and you want to generate 4,000 kWh per month, you would need approximately (4,000 kWh / 4 kWh/day) = 1,000 solar panels.
How much does a 100 MW solar farm cost? ›
The total cost of a 100 MW solar system will be around $3.76/watt (installed), so the total cost of the PV system will be $376 million, bringing the total cost of the system with batteries to $1.1 billion or ~$50,000 per home (excluding all land, transmission, maintenance and other costs). This is no bargain.
How many homes can 10 MW power? ›
A 10 megawatt power plant in a grid will supply 10,000 / 1.25 = 8,000 homes.
How many homes can 1 GW power for a year? ›
One gigawatt is roughly the size of two coal-fired power plants and is enough energy to power 750,000 homes.
How do solar farms make money? ›
Utility-scale solar farms (generally 1 MW - 2,000 MW) sell their electricity to generate a profit for their owner. Solar farms typically cost between $0.89 to $1.01 per watt to install. The average 1 MW farm can earn roughly $43,500 a year by selling its electricity to utilities.
Solar companies are offering lucrative leases, around $450 to $1,200 per acre per year with incremental increases. The leases range from 20-40 years, with the option for additional long-term renewals.
Can I make money from solar panels? ›
In some states, you can make money by selling SRECs or solar renewable energy certificates. SRECs are certificates solar energy owners earn for every 1,000 kilowatt-hours (or 1 megawatt-hour) produced by their system.
What is the negative of a solar farm? ›
Some of the cons of solar energy are: the cost of adding solar, depends on sunlight, space constraints, solar energy storage is expensive, installation can be difficult and environmental impact of manufacturing and disposing panels.
How long until solar farm pays for itself? ›
Key takeaways. Solar panels pay for themselves over time by saving you money on electricity bills, and in some cases, earning you money through ongoing incentive payments. Solar panel payback time can range between 5 and 15 years in the United States, depending on where you live.
Is solar worth it financially? ›
In most cases, installing residential solar panels is worth it because the long term savings and increase in property value often outweigh the upfront cost.
How long does it take to build a 1 MW solar farm? ›
Solar farms generally take eight to eighteen months to complete, from planning to implementation. Much of the timeline depends on the size of the solar farm.
How big is a 1000 MW solar farm? ›
A large fixed-tilt photovoltaic solar power plant that produces 1,000 megawatt-hours per year requires, on average, 2.8 acres for the solar panels. This means that a solar power plant that provides all of the electricity for 1,000 homes would require 32 acres of land, according to the report.
How big is a 5 megawatt solar farm? ›
We usually require plots of at least 30 to 40 acres but can occasionally bundle land together from neighboring landowners if you have smaller parcels of land. Although 100-plus acre solar panel arrays generate considerably more energy, 30 to 40 acres allow us to build 5 MW solar farms.
How much power does a 20 acre solar farm produce? ›
Small solar farms typically generate between 2 and 20 megawatts (MW) of solar energy. A 2 MW solar farm is typically located on approximately 20 acres and can power between 500 and more than 600 homes.
