New Energy Technologies, Inc. (OTCQB: NENE) announced today a financial
payback period of under one year for its see-through SolarWindow™
technology, capable of generating electricity on glass windows. Quick
payback is one of the most important financial considerations for
renewable energy consumers, including building developers, architects,
and engineers.
“No competing technology I’ve seen has ever recorded or published a
payback period as fast and as financially compelling as our SolarWindow™
technology,” explained Mr. John Conklin, President and CEO of New Energy
Technologies, Inc. “This is a huge win for all our stakeholders –
including future customers – and for the environment.”
According to first-ever financial modeling results released by the
Company today, SolarWindow™ systems could achieve payback within one
year. To produce the equivalent amount of power with conventional solar
systems would require at least 5-11 years for payback and at least 10-12
acres of valuable urban land. In contrast, SolarWindow™ systems can be
installed on available window glass on tall towers and skyscrapers.
“SolarWindow™ technology turns passive building windows into active
power generators, producing the most exciting return on investment,”
explained Mr. Kenneth Schuckers, CPA, who has experience in helping
companies understand the benefit of renewable energy and tax savings
during his tenure at Grant Thornton, KPMG, Deloitte & Touche, and others.
“Applying electricity-generating coatings to the vast glass surfaces of
windows on tall towers is a brilliant strategy. While others have simply
gazed ahead, New Energy has looked up!”
The prospect of exponentially out-performing today’s solar photovoltaic
(PV) systems is made possible when engineers apply New Energy’s
electricity-generating SolarWindow™ coatings to glass. These see-through
liquid coatings create electricity-generating glass windows,
successfully prototyped in the most aesthetically appealing colors in
demand by building architects.
When applied to windows on towers, New Energy’s modeling shows
SolarWindow™ generating up to 50-times the power of conventional rooftop
solar systems while delivering 15-times the environmental benefits. For
example, a single SolarWindow™ installation can avoid the amount of
carbon emissions produced by vehicles driving about 2.75 million miles
per year, compared to 180,000 miles for conventional rooftop systems.
“I’m proud to announce this milestone event for our SolarWindow™
technology. In addition to setting new records for size and power
production, we’ve now surpassed the industry’s expectations for
financial return,” explained Mr. Conklin.
“In the upcoming weeks, we will work to secure independent third-party
validation of our financial modeling – a major product development goal
for 2015.”
SolarWindow™ is currently under development for the estimated 85 million
commercial buildings and detached homes in America.
To view power production estimates, click
here.
New Energy Technologies’ Proprietary Power Production & Financial Model
(Power & Financial Model) uses photovoltaic (PV) modeling calculations
that are consistent with renewable energy practitioner standards for
assessing, evaluating and estimating renewable energy for a PV project.
The Power & Financial Model estimator takes into consideration building
geographic location, solar radiation for flat-plate collectors
(SolarWindow™ irradiance is derated to account for 3600
building orientation and vertical installation), climate zone energy use
and generalized skyscraper building characteristics when estimating PV
power and energy production, and carbon dioxide (CO2)
equivalents. Actual power, energy production and CO2
equivalents modeled may vary based upon building-to-building situational
characteristics and varying installation methodologies.
About New Energy Technologies, Inc.
New Energy Technologies, Inc., together with its wholly owned
subsidiaries, is a developer of next generation alternative and
renewable energy technologies. Among the Company’s technologies under
development are:
-
SolarWindow™ technologies, which generate electricity on
see-through glass and flexible plastics with colored tints popular to
skyscraper glass. Unlike conventional systems, SolarWindow™ can be
applied to all four sides of tall towers, generating electricity using
natural and artificial light conditions and even shaded areas.
SolarWindow™ uses organic materials, which are dissolved into liquid,
ideal for low-cost high-output manufacturing. New Energy’s
SolarWindow™ is the subject of a patent pending technology; and
-
MotionPower™ roadway systems for generating electricity by
capturing the kinetic energy produced by moving vehicles – a
patent-pending technology. An estimated 250 million registered
vehicles drive more than six billion miles on America’s roadways,
every day.
Through established relationships with universities, research
institutions, and commercial partners, we strive to identify
technologies and business opportunities on the leading edge of renewable
energy innovation. Unique to our business model is the use of
established research infrastructure owned by the various institutions we
deal with, saving us significant capital which would otherwise be
required for such costs as land and building acquisition, equipment and
capital equipment purchases, and other start-up expenses. As a result,
we are able to benefit from leading edge research while employing
significantly less capital than conventional organizations.
For additional information, please call Ms. Briana L. Erickson toll-free
at 1-800-213-0689 or visit: www.newenergytechnologiesinc.com.
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Legal Notice Regarding Forward-Looking Statements
No statement herein should be considered an offer or a solicitation of
an offer for the purchase or sale of any securities. This release
contains forward-looking statements that are based upon current
expectations or beliefs, as well as a number of assumptions about future
events. Although New Energy Technologies, Inc. (the “Company” or “New
Energy Technologies”) believes that the expectations reflected in the
forward-looking statements and the assumptions upon which they are based
are reasonable, it can give no assurance that such expectations and
assumptions will prove to have been correct. Forward-looking statements,
which involve assumptions and describe our future plans, strategies, and
expectations, are generally identifiable by use of the words “may,”
“will,” “should,” “could,” “expect,” “anticipate,” “estimate,”
“believe,” “intend,” or “project” or the negative of these words or
other variations on these words or comparable terminology. The reader is
cautioned not to put undue reliance on these forward-looking statements,
as these statements are subject to numerous factors and uncertainties,
including but not limited to adverse economic conditions, intense
competition, lack of meaningful research results, entry of new
competitors and products, adverse federal, state and local government
regulation, inadequate capital, unexpected costs and operating deficits,
increases in general and administrative costs, termination of contracts
or agreements, technological obsolescence of the Company's products,
technical problems with the Company's research and products, price
increases for supplies and components, litigation and administrative
proceedings involving the Company, the possible acquisition of new
businesses or technologies that result in operating losses or that do
not perform as anticipated, unanticipated losses, the possible
fluctuation and volatility of the Company's operating results, financial
condition and stock price, losses incurred in litigating and settling
cases, dilution in the Company's ownership of its business, adverse
publicity and news coverage, inability to carry out research,
development and commercialization plans, loss or retirement of key
executives and research scientists, changes in interest rates,
inflationary factors, and other specific risks. There can be no
assurance that further research and development will validate and
support the results of our preliminary research and studies. Further,
there can be no assurance that the necessary regulatory approvals will
be obtained or that New Energy Technologies, Inc. will be able to
develop commercially viable products on the basis of its technologies.
In addition, other factors that could cause actual results to differ
materially are discussed in the Company's most recent Form 10-Q and Form
10-K filings with the Securities and Exchange Commission. These reports
and filings may be inspected and copied at the Public Reference Room
maintained by the U.S. Securities & Exchange Commission at 100 F Street,
N.E., Washington, D.C. 20549. You can obtain information about operation
of the Public Reference Room by calling the U.S. Securities & Exchange
Commission at 1-800-SEC-0330. The U.S. Securities & Exchange Commission
also maintains an Internet site that contains reports, proxy and
information statements, and other information regarding issuers that
file electronically with the U.S. Securities & Exchange Commission at http://www.sec.gov.
The Company undertakes no obligation to publicly release the results of
any revisions to these forward looking statements that may be made to
reflect the events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events.
Copyright Business Wire 2015