SAN DIEGO, Feb. 23, 2021 (GLOBE NEWSWIRE) -- NeoVolta Inc. (OTCQB: NEOV) - The need for home backup power has never been more obvious. An unprecedented winter storm across 25 states has left millions of Americans without power. Texas has been plunged into a state of disaster, with 4 million in the dark in subfreezing temperatures. The winter storm also spawned devastating tornadoes that have ripped through North Carolina, Georgia and Florida.
Homes with a backup power system significantly reduces dependence on the nation's crippled grid and provides protection against unexpected blackouts. More consumers are taking the initiative and managing their own electric power by pairing their solar panels with an energy storage system.
Solar alone does not protect a homeowner during a grid outage. For safety reasons and by National Electric Code, solar panels cannot energize when the grid is down, thus leaving solar owners in the dark. In order for the solar to energize, it needs a battery storage system that uses "islanding" technology to turn the solar on independent of the grid.
One energy storage system that uses this islanding technique is NeoVolta's NV14. When a blackout occurs for any reason, NeoVolta's battery storage system automatically disconnects from the grid, keeps the solar system on, and seamlessly powers the critical loads needed to keep a home safe, comfortable, and connected.
"Extreme weather and grid outages have become a fact of life, and the time to prepare for the next crisis is today," said Brent Willson, CEO of NeoVolta. "With NeoVolta's high-capacity energy storage, homeowners can keep their solar producing and their lights on, providing peace of mind, quality of life, and can help prevent life threatening conditions."
The NV14 battery system has a very high energy storage capacity of 14.4 kilowatt-hours. That capacity can be further expanded to 24.0 kWh by adding the optional NeoVolta V24 battery, without the expense of installing a second inverter. NeoVolta's smart inverter discharges 7.7 kilowatts of instantaneous power, more than most mainstream competitors, enabling it to handle up to 14 120 V circuits. With this combination of high storage capacity and high power, homeowners can run more household appliances and features for much longer.
As an added benefit, NeoVolta storage systems use clean lithium iron phosphate chemistry, the safe alternative to ordinary lithium ion batteries. Studies have shown that lithium iron phosphate is less susceptible to overheating, reducing the risk of combustion while extending the life of the battery. For its safety, performance and compatibility with any solar system, new or existing, NeoVolta NV14 has been named one of Solar Power World's top storage products two years in a row.
About NeoVolta - NeoVolta designs, develops and manufactures utility-bill reducing residential energy storage systems capable of powering your home even when the grid goes down. With a focus on safer Lithium-Iron Phosphate (LiFe(PO4)) chemistry, the NV14 is equipped with a solar rechargeable 14.4 kWh battery system, 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. Customers can expand the NV14's capacity to an industry-leading 24.0 kWh with the optional NeoVolta NV24 add-on battery. NeoVolta has added generator compatibility and is working on other industry leading improvements that will be announced soon.
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 and the ability of the NV14 to be successfully integrated with residential backup generators. 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.