Mass Megawatts and Solar Trackers Can Save Money with the Growth of Utilities Implementing Time of Use Plans

Mass Megawatts (OTC:MMMW) and Solar Trackers Save More Money with the Growth of Utilities Implementing Time of Use Pricing Plans

WORCESTER, Mass., June 22, 2020 — Mass Megawatts Wind Power, Inc. (OTC:MMMW) can use solar trackers as a great opportunity to save (or earn) money on the cost of electricity with the growing number of utilities implementing time of use pricing plans. The power companies encourage customers to consume energy during off peak hours when electricity is cheap and discourage energy consumption when the cost to produce electricity is high. As an opportunity to save (or earn) money, the solar trackers help generate more electricity than stationary solar panels in the late afternoon when the selling price of electricity is higher with many time of use plans implemented by utilities in places like California. The peak electricity paying the best prices happen in the afternoon and early evening when air conditioning use increases with people returning home from work. The movement of solar trackers throughout the day can avoid the reduction of solar power production of stationary solar units in the late afternoon. The increased power production during these critical higher cost periods can avoid some of the strain on the grid during those critical hours.

Additionally, Mass Megawatts recently noted larger benefits of solar power output in the northern part of the United States and Canada. Mass Megawatts patent pending solar tracker has its highest output in the northern climates in relation to commercial horizontal single axis solar trackers power output on the market, It would still have a higher output than commercial horizontal solar trackers in the southern parts of North America closer to the equator. In summary, the Mass Megawatts tracker is most competitive in the northern and colder climate. The taller profile of the Mass Megawatts tracker is not parallel to the ground unlike commercial horizontal single axis trackers. The Mass Megawatts trackers maintain a constant angle of solar incidence when the sun is lower in the sky. The Mass Megawatts tracker also avoid the need to space units for the limiting of shading and energy losses which is an issue with vertical single axis trackers and dual axis units.

In other recent news, Mass Megawatts and other solar companies benefit from lower oil prices with the reduction of the available domestic natural gas leading to higher natural gas prices in the United States. Higher natural gas prices expand the cost competitive advantage of renewable energy like wind and solar.

The oversupply of natural gas in recent years before COVID 19 is a byproduct of the oil boom. Natural gas is produced alongside more lucrative oil. Without oil drilling, the production of natural gas would not be economically feasible in many cases. As a result, the low- priced natural gas is dumped onto the markets at low prices. If a slowdown in oil drilling reduces natural gas, the price of natural gas would increase. As wind and solar continue to grow, the biggest competition being low cost natural gas would be less competitive.

Related to recent news of additional tax benefits for renewable energy, Mass Megawatts hopes to benefit with recently released final regulations of new opportunity zone rules related to clean energy. The new rules should help the development and sales of the new patent pending solar trackers. The new product cost less than 10 percent more on a given solar project while producing 60 percent more electricity. Renewable energy investors related to our products should consider taking advantage of new opportunity zone incentives.

The proposed and newly enacted rules outlined how the new tax incentives could work for capital-heavy industries like clean energy. The new rules provide some certainty that certain tax benefits including accelerated depreciation. That could encourage new interest in using the incentives for renewable projects. The tax incentives reward investors who place their profits from stock and other assets in designated census tracts. 

Under tax code, investors can defer capital gains tax on the profits they invest in state designated opportunity zones for eight years with some of it forgiven if they hold onto the investments for at least five years. If they hold onto the investment for a decade, its appreciation is tax-free. The incentives are subject to geographical limits of designated residential low income areas on solar project locations.

Renewables investors were worried that they would get hit with income taxes on their accelerated depreciation tax benefits upon selling their opportunity zone fund stakes after 10 years. The proposed regulations stipulate that the shareholder’s gains are erased for tax purposes.

 Mass Megawatts is finalizing efforts to bring a new Solar Tracking technology with more electric cost savings for its customers in comparison to its stationary units. The patented pending, Mass Megawatts ‘Solar Tracking System’ (STS) is designed to improve solar-energy production and at the same time reduce the cost of materials and installation.

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, in order to reduce wind-related stresses and system downtime. 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.

With its patent pending, Solar Tracking System and Wind Electric Power Generation system, only approximately 65 million shares issued and outstanding, and very little debt, 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 web site.

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