Mass Megawatts Targets Marketing Effort Toward Acton BOSTON, Mass., Aug. 15, 2022 (GLOBE NEWSWIRE) -- Mass Megawatts (OTC: MMMW) www.massmegawatts.com targets ten Massachusetts communities being allowed to limit or ban fossil fuels in new construction under the new Massachusetts Clean Energy Law passed last week. Mass Megawatts’ new solar tracker is designed to reduce the cost of electricity. The solar tracker can increase power output by 30 percent for an additional cost of less than ten percent. Under the new law, Massachusetts plans to reduce carbon emissions by at least 85% by 2050. The ten Massachusetts communities limiting or banning fossil fuels in new construction are Acton, Aquinnah, Arlington,Brookline, Cambridge, Concord, Lexington, Lincoln, Newton, and West Tisbury.
In other recent news Mass Megawatts is expected to receive an additional ten percent tax credit beyond the 30 percent tax credit for its planned 160 kW brownfield related project using the patent pending solar tracker under another Climate Bill on the federal level recently passed by the United States Senate and House of Representatives. It is expected to be signed into law this week by President Biden.
Mass Megawatts can take 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.
https://www.globenewswire.com/news-release/2022/08/15/2498130/0/en/Mass-Megawatts-Targets-Marketing-Effort-Toward-Acton-Aquinnah-Arlington-Brookline-Cambridge-Concord-Lexington-Lincoln-Newton-and-West-Tisbury-as-New-Massachusetts-Law-Signed-by-Gov.html