Solar Wind Energy Tower, Inc. (OTCQB: SWET) ("SWET" or the "Company"), the inventor of large Solar Wind Downdraft Tower structures capable of producing abundant, inexpensive electricity, announced today the Company's intention to maintain total transparency by correcting inaccurate information published in reports by outside sources in reference to its proposed Solar Wind Downdraft Tower in San Luis, AZ.
First, the Company projects that the Tower will produce approximately 4 million megawatt hours per year to be sold and refers to approximately 435 megawatt hours per hour as an average HOURLY output. Various articles have misrepresented this output referring to it as "daily" or even "monthly" output. On some summer days, the Company projects hourly production near 1,000 megawatt hours per hour. A simple comparison to SWET's annual estimate is to remember this: "The Tower is projected to produce more electricity per year than the Hoover Dam!"
Another functioning aspect of the Tower relates to the amount of power required to pump the water to its top. Recent misrepresentations have inaccurately stated it will require more that 50% of the total output to pump the water. These inaccurate projections most likely are referencing estimates proposed years, if not decades ago, by others for a very early stage downdraft tower that was proposed to be 4,000' tall and 1,800' wide and used standard turbines of the day and based weather data on generic conditions. The currently proposed SWET Tower will require far less energy to pump 1/2 the height and 1/2 the volume of water, while producing far greater efficiency because it has site specific weather information and a patented multiple turbine energy extraction system.
Ron Pickett, CEO of Solar Wind Energy Tower, commented, "We estimate our internal pumping requirements will use approximately 11.5% of power generated, which has already been deducted from sellable energy estimates."
The Company appreciates the feedback it is getting from its shareholders and trusts this information will clear up any and all inaccuracies.
About Solar Wind Energy Tower, Inc.
Founded in 2010, Solar Wind Energy Tower, Inc., and its wholly owned commercializing subsidiary, Solar Wind Energy, Inc., is the inventor of the patented Solar Wind Downdraft Tower, which uses state of the art technologies and construction systems to produce abundant, inexpensive electricity, 24 hours a day, 7 days a week, and the Energy Generation Calculator software which can calculate and predict energy production of a Tower given a site's local weather data. The Company secured the site for its first Tower project in the U.S. in the City of San Luis, Arizona which may be ready for operation as soon as 2018. Under the most recent design specifications, the first Tower in San Luis, Arizona has a design capacity on an hourly basis of up to 1,250 megawatt hours, gross. The Company is also focused on licensing its development know-how and establishing partnerships at home and abroad to propagate Tower development projects in return for licensing fees for territories, development fees during construction, and recurring royalty fees based on the actual kilowatt hours produced by the Tower. Solar Wind Energy has assembled a team of experienced business professionals, engineering and scientific consultants with the proven ability to bring this solution to market.
The Company's core objective and focus is to become a leading enabler of clean, efficient renewable energy to world communities, at a reasonable cost, without the destructive residuals of fossil fuels, while continuing to generate innovative technological solutions to meet tomorrow's electrical power needs. Solar Wind Energy has filed and been issued patents that the Company believes will further enhance this potentially revolutionary technology. Solar Wind Energy Tower, Inc., based in Annapolis, MD, is traded on the OTCQB under the symbol 'SWET'.
For more information visit http://www.solarwindenergytower.com, www.facebook.com/pages/Solar-Wind-Energy-Tower/ and www.twitter/SWETower.com.
Cautionary Note Regarding Forward-Looking Statements
Statements included in this release may constitute "forward-looking statements". Actual results may differ materially from those projected in forward-looking statements. Such statements involve a number of risks and uncertainties such as competitive factors, technological development, market demand and the Company's ability to obtain new contracts and accurately estimate revenues, if any, due to variability in size, scope and duration of projects, and internal issues in the sponsoring client. Further information on potential factors that could affect the Company's financial results, can be found in the Company's various filings with the Securities and Exchange Commission (SEC).
Solar Wind Energy, Inc.
1997 Annapolis Exchange Parkway Suite 300
Annapolis, Maryland 21401
SOURCE: Solar Wind Energy Tower, Inc.