San Diego, CA, March 11, 2020 – NEOVOLTA INC. (OTCQB: NEOV) – California, the nation’s clean energy leader, is committed to generating 100% of its energy from renewable sources by 2045. Now that the state has more than a million solar homes—and counting—clean energy advocates are wondering if one million home storage systems might be next.
With storage systems, self-generated solar power is saved for later use. This significantly reduces a home’s consumption of fossil fuels in the evening or on cloudy days. These battery systems also provide backup power in the event of a blackout. This has become critical in California, where prolonged wildfire safety blackouts have become a serious concern. And the stored solar energy can also be used during normal evening hours, when rooftop panels aren’t generating and utility rates are often twice as high.
Of California’s million-plus homes with solar panels, only about 19,000 had battery storage at the end of November 2019. But the solar storage market is growing fast. Bloomberg predicts that at least 50,000 California homes will install storage systems in 2020.
Some of the most innovative storage systems on the market come from San Diego–based NeoVolta. Its NV14 system was recently named one of Solar Power World’s “2019 Top Solar Storage Products” for its safer, longer-lasting lithium iron phosphate battery and high capacity of 14.4 kilowatt-hours. This capacity is expandable to 24 kilowatt-hours by pairing the NV14 with NeoVolta’s new NV24 battery add-on (no additional inverter needed). This represents one of the highest-capacity home solar storage systems on the market. It can also charge or discharge 7.7 kilowatts of instantaneous power, more than most competitors in its class.
NeoVolta’s high-performance, competitively priced systems can connect with any residential solar installation—new or existing, AC or DC or both simultaneously.
The NV14/NV24 is approved for connection with the San Diego Gas & Electric and Southern California Edison power grids and is being installed across Southern California. Installation will become available in Northern California in mid-2020. NeoVolta’s 21,150-square-foot manufacturing facility has the capacity to produce more than 8,000 NV14 and 4,000 NV24 units each year.
“There are many good reasons for California homeowners to invest in a NeoVolta advanced energy storage system, starting with the fact that it delivers clean, renewable energy,” said company CEO Brent Willson. “Our systems have very high storage capacity, so your home uses more of its own solar power and relies even less on fossil fuel. Homeowners can also protect themselves from the next wave of blackouts, and the economics of energy storage are simply too good to pass up.”
NeoVolta designs, develops and manufactures utility-bill reducing residential energy storage batteries capable of powering your home even when the grid goes down. With a focus on safer Lithium-Iron Phosphate chemistry, the NV14 is equipped with a solar rechargeable 14.4 kWh battery, a 7,680-Watt inverter and a web-based energy management system with 24/7 monitoring. By storing energy instead of sending it back to the grid, consumers can protect themselves against blackouts, avoid expensive peak demand electricity rates charged by utility companies when solar panels aren’t producing, and get one step closer to grid independence.
For more information visit http://www.neovolta.com email us at: [email protected] or call us: 858-386-1929
Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, the continued increase in utility rates. Although NeoVolta believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. NeoVolta has attempted to identify forward-looking statements by terminology including ”believes,” ”estimates,” ”anticipates,” ”expects,” ”plans,” ”projects,” ”intends,” ”potential,” ”may,” ”could,” ”might,” ”will,” ”should,” ”approximately” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including those discussed under the “Risk Factors” section of NeoVolta’s Form 1-A filing filed with the Securities and Exchange Commission (“SEC”) and updated from time to time in its other public filings with the SEC. Any forward-looking statements contained in this release speak only as of its date. NeoVolta undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.