Financial Incentives Boost Solar Applications
AXcess News (www.axcessnews.com) released a
story covering alternative energy stocks that focused on WorldWater
Corporation (OTC BB: WWAT) following new sales figures released Friday.
With oil above $40 a barrel and utilities straining to meet demands, some
state and local governments are offering financial incentives for
alternative energy applications that can lower power usage.
One company taking advantage of those programs is WorldWater Corp., a
manufacturer and marketer of solar-pumping systems, that announced a $2
million contract Friday to install its solar-pumping system at a California
Quentin T. Kelly, WorldWater chairman and CEO stated that the solar-pumping
system being installed was the largest irrigation system of its type ever
installed. The AquaMax will drive a 200 horsepower pumping system at the
According to WorldWater, state financial incentives coupled with the high
cost of energy made the deal work for the citrus rancher. But California is
not the only state offering incentives and WorldWater let investors know it
after announcing their strategic initiatives Aug 30.
According to its plans, WorldWater is focusing in markets where it can take
advantage of both state and local municipalities financial incentives and
in some cases that makes government itself a candidate.
After pulling off some substantial projects like California’s Cerro Coso
College, where its solar-powered pumping system generates 60 percent of the
school’s electricity requirements. Or the world’s largest solar-powered
refrigeration compressor system — a 350-horsepower hydracooler at a potato
The citrus ranch project caps off a great start for the period, racking up
sales of $2 million from that project verses $3.3 million for the 2nd
quarter, which was announced Aug 20. At the time of that announcement
WorldWater reported sales of $4.1 million for the first half, up an
incredible 262% over the same period last year.
Kelly’s company emphasized that it was pursuing customers in New York
through a collaborative agreement with 1st Rochdale Cooperative, one of the
oldest and largest electricity cooperatives in the United States. The
company hoped to pursue international projects through an agreement with
Kirloskar Brothers Ltd., of Pune, India, the largest pump and motor
manufacturer in India, though foreign sales may be long in coming due to
WorldWater’s own limitations as a small, developing enterprise.
Further agricultural applications are expected to develop, especially on
the West Coast, which has been facing fluctuating energy rates and drought
conditions that when coupled with the high cost of fuel makes alternative
fuel sources, like WorldWater, all the more appealing.
In a story released in August, Source Press covered the alternative energy
markets, citing a rising demand for products like WorldWater’s AquaMax
solar-pumping system, capable of driving pumps as large as 600 horsepower.
According to the company, the nearest competitor can only drive a 50
horsepower pump. The dramatic increase in capability is what appears to be
the cornerstone of WorldWater’s success.
More news on the investment horizon for the alternative energy sector can
be found at AXcess News: http://www.axcessnews.com. This is an excerpt
from the complete story.
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