If there is one sector that continues to get significant traction among investors due to the possibilities of the future, then it is the renewable energy sector. It is for good reason too considering the way in which many of the most powerful governments are backing it. If you are looking into renewable energy stocks this morning, then it may be a good time to take a look into the Mass Megawatts Wind Power (OTCMKTS:MMMW) stock. The company was in the news back on Thursday last week when it made an announcement with regards to the fact that it was going to get an additional 10% tax credit for its 160 kW project.
Mass Megawatts Wind Power is going to deploy its solar tracker for the project, which has been planned under the provisions of the Climate Bill that had been passed by the United States recently. It should be noted that the solar tracker is still at a patent pending stage. Hence, it is going to be possible for Mass Megawatts Wind Power to benefit from the financial advantages of establishing the project in either a brownfield area or a location that may offer environmental advantages to a certain degree. It is interesting to note that the project is also outside the designated opportunity zone and hence could provide much-needed support to communities that are deemed low-income.
The projects are expected to get the boost of government incentives for the purpose of selling to electric users of a lower income. In this regard, it should be noted that while selling to low-income users there are going to be adequate safety nets in place as well. For instance, if Mass Megawatts Wind Power fails to get payment from a user then another user is going to be designated to the company.
