SAN DIEGO, Jan. 29, 2020 (GLOBE NEWSWIRE) -- NEOVOLTA INC. (OTCQB: NEOV) – NeoVolta has dramatically expanded the storage capacity of its NV14 home solar battery with the new NV24 battery add-on. Pairing the NV14 with the NV24 increases storage capacity from 14.4 kilowatt-hours to 24.0 kWh, making this one of the highest-capacity home solar storage systems on the market. With additional energy stored for later use, the paired system further slashes monthly utility bills and provides even longer-lasting backup power during extended power outages.
The NV24 meets a critical demand for high-capacity home solar storage. Our modern lifestyles are powered by a growing array of appliances and devices that offer comfort and convenience while keeping us connected. At the same time, the electric grid is more vulnerable than ever to prolonged power outages caused by extreme weather or cyberattack. And in California, where NeoVolta installation is available, public safety power shutdowns are a fact of life during a wildfire season that’s become longer and more intense. The NV14/NV24 outputs 32 amps of continuous power, higher than most other solar storage systems, so it can power more energy-consuming appliances at one time.
The NV24 system adds two batteries but does not require a second inverter, which represents a significant cost savings.
Like the NV14, the NV24 can be installed inside or outside, and the two cabinets need to be placed within four feet of each other. Homeowners can have the two systems installed together, or the NV24 can be retrofitted to an existing NV14 in 90 minutes or less. Installation is available now in Southern California and will be available in Northern California in mid-2020.
San Diego–based NeoVolta uses innovative lithium iron phosphate battery chemistry in its NV14 and NV24. This superior chemistry makes NeoVolta batteries safer, cleaner and longer-lasting than the ordinary lithium ion batteries used by most competitors. The NV14 was recently named one of Solar Power World’s “2019 Top Solar Storage Products.” The system was recognized for its safe, long-lasting battery, high capacity and compatibility with any solar panel installation.
The NV14 and NV24 meet the standards of Underwriters Laboratories, the world’s most trusted name in product safety certification.
“Any homeowner with high energy consumption, or who lives in an area that’s prone to extended power outages, should consider increasing their solar storage capacity,” said Brent Willson, CEO of NeoVolta. “That’s why we’re thrilled to introduce the NV24. Pairing the NV14 with an NV24 is the ideal solution for scaling up capacity to meet your home’s energy needs.”
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.
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.