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SAN DIEGO, July 22, 2019 (GLOBE NEWSWIRE) -- Home solar storage offers low energy costs plus the security of backup power if/when the grid goes down. But when choosing a solar storage system, it’s important to consider the chemistry inside the battery. Most solar batteries on the market are lithium-based, and there are two main types: lithium ion and lithium iron phosphate. The names might sound similar, but in reality these batteries are quite different.
Lithium ion batteries contain cobalt, a toxic metal that comes with many serious risks. Cobalt is extremely harmful to both miners and the environment. On the consumer side, batteries with cobalt are prone to thermal runaway. When this happens, the battery rapidly overheats and can catch fire or explode. Combustion can also cause the release of toxic cobalt fumes.
Thermal runaway of lithium ion batteries has caused smartphones and electric cars to burst into flames. One well-known electric car maker that has had a string of highly publicized fire incidents uses the same lithium ion technology for its line of home solar batteries. Panasonic, whose automotive business partners with that company, has tried to cut down cobalt usage and is “aiming to achieve zero usage in the near future,” although it has yet to identify a replacement for cobalt.
The safer chemistry for home solar storage is lithium iron phosphate, which does not contain cobalt. These batteries are chemically and thermally stable and non-toxic. In head-to-head comparisons, they also last longer than their lithium ion counterparts.
San Diego–based NeoVolta Inc. designed its NV14 home energy storage system with safety in mind. The NV14’s lithium iron phosphate battery has superior thermal and chemical stability. It can withstand higher temperatures, while remaining cool and safe to touch. In the event of a power outage, the system will automatically disconnect from the grid via included auto transfer switch and will continue powering critical household loads indefinitely. The NeoVolta smartphone app allows users to monitor the system’s performance 24/7, and it’s backed by a ten-year warranty.
“When it comes to solar storage, there is an alternative to putting a toxic fire hazard in your home,” said Brent Willson, CEO of NeoVolta. “We’ve engineered our systems with cobalt-free lithium iron phosphate technology. Independent studies have shown that for safety, stability, and life cycle, lithium iron phosphate clearly outperforms lithium ion.”
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.