NeoVolta Looking to Quadruple Production of Home Energy Storage Systems by End of 2020
SAN DIEGO, Sept. 15, 2020 (GLOBE NEWSWIRE) — NEOVOLTA INC. (OTCQB: NEOV) – NeoVolta, manufacturer of patent-pending Smart Energy Storage Systems, was recently highlighted on the CBS News8 morning show in San Diego. The segment, which aired Tuesday, August 18, showed how NeoVolta customers were able to keep the lights on during statewide rolling blackouts in California that affected as many as two million residents.
News8 anchor Eric Kahnert interviewed company CEO Brent Willson, who explained how NeoVolta storage systems protect homes against crippling blackouts while dramatically lowering monthly utility bills. The stored solar energy can be used when the grid goes out for any reason. And under normal conditions, the energy can be used at night so that customers avoid paying the highest rates during “peak demand” hours, commonly referred to as “Time-of-Use.”
Kahnert also spoke with NeoVolta customer Kim Alger of San Diego. During the California rolling blackouts on August 14, Alger’s home stayed continuously powered thanks to her NV14 storage system. The same was true for NeoVolta customers in other parts of the state—including Death Valley, where temperatures reached 130 degrees.
Kahnert first profiled NeoVolta in February 2020, taking local viewers inside the company’s San Diego manufacturing facility. Since then, NeoVolta has expanded its distribution network from Southern California into Northern California. At the same time, the company has doubled its production and plans to quadruple capacity by the end of 2020 with demand.
The NV14 has a storage capacity of 14.4 kilowatt-hours and discharges 7.7 kilowatts of continuous power, making it one of the highest-performing systems in its class. That storage capacity can be scaled up to 24.0 kWh with the optional NV24 add-on battery, without the expense of an additional inverter. All NeoVolta systems are engineered with advanced lithium iron phosphate chemistry, a safer and longer-lasting alternative to lithium ion storage batteries.
Willson added that while installation costs vary, federal tax credits and California rebates are available and payback for most NeoVolta customers is between four and six years. Alger said she has been very pleased with her investment.
Along with CBS News8, the San Diego Business Journal and Greentech Media have covered NeoVolta in recent months.
“Every power outage in California and the Southwest underscores the critical need for home energy resilience,” said NeoVolta CEO Brent Willson. “Our high-capacity NV14 storage system and NV24 add-on give homeowners control over their energy bill and the security of backup power during any grid outage.”
About NeoVolta – 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 re chargeable 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: IR@NeoVolta.com or call us: 858-239-2029
Forward-Looking Statements: 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 future performance, reliability and safety of NeoVolta’s NV14 storage system. 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.
Source: NeoVolta Inc.