SAN DIEGO, Dec. 13, 2019 (GLOBE NEWSWIRE) -- NEOVOLTA INC. (OTCQB: NEOV) – California’s recent power shutoffs, unprecedented in scale, were intended to prevent power lines from sparking wildfires. Millions of residents were plunged into darkness and chaos, for several days in some cases. Schools and businesses were closed, and the financial impact could be in the billions. Even worse, these power shutoffs pose a serious risk to some of the most vulnerable Californians.
Without electrical power, people are left without access to vital life-supporting and life-enhancing equipment, medications requiring refrigeration may be at risk, and mobility devices may not be able to be recharged.
California now faces a longer and more intense fire season fueled by hot, dry winds. All three of its utility giants—Pacific Gas and Electric, Southern California Edison, and San Diego Gas & Electric—have cut power to areas across the state in recent weeks. PG&E has announced that its planned shutdowns could last another ten years .
Many Californians are looking to solar power as a way to make their homes resilient against these outages. But rooftop panels alone won’t keep the lights on during a blackout. For that, solar panels must be paired with an energy storage system. These systems take the excess solar energy a home produces and stores it in a battery. The stored energy can be used at nighttime, when utility companies charge peak demand rates, or as backup power if the grid goes down.
Of all the home energy storage systems on the market, one of the most powerful comes from San Diego: the NeoVolta NV14 .
When the grid goes down, the NV14 will automatically disconnect from the grid and immediately start powering critical loads. With its high storage capacity of 14.4 kilowatt hours and 7.6 kW of continuous power, the NV14 can keep more household appliances running longer than competitors in its class. With its advanced lithium iron phosphate chemistry, the NV14 is safer, cleaner, and longer lasting than ordinary lithium ion batteries.
The NV14 is now being installed in homes across Southern California and will expand into Northern California in the next six months. It has been approved by the California Energy Commission (CEC) as a certified energy storage system. The NV14 can connect with any residential solar installation —new or existing, AC or DC. The critical load panel is included in the package, with lower installation costs than comparable systems.
“These public safety power shutoffs are crippling, and no one knows if they actually prevent wildfires,” said Brent Willson, CEO of NeoVolta. “But they’re going to be a fact of life in California for the foreseeable future. Every household must be prepared to deal with long-term outages with little advance notice. The high-capacity NeoVolta NV14 is engineered to get you through the crisis.”
Correction: On December 9, 2019, the Company issued a press release referencing the ability to utilize the NV14 for medical needs. For the avoidance of doubt, the NV14 is not intended for use as a primary or back-up power source for life-support systems, other medical equipment, or any other use where product failure could lead to injury to persons or loss of life or catastrophic property damage.
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 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: 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 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.
