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SAN DIEGO, Nov. 11, 2019 (GLOBE NEWSWIRE) -- The NeoVolta NV14 has been approved by the California Energy Commission (CEC) as a certified energy storage system. These systems store energy produced by solar panels and store it for later use. To achieve the certification, the NV14 residential energy storage system had to meet or exceed a series of safety and performance standards.
The CEC added energy storage systems to its Solar Equipment Lists in August 2019. According to the commission’s guidelines, only solar energy systems that use equipment from these lists are eligible for California’s ratepayer-based incentives.
NeoVolta is one of three manufacturers that have received CEC certification as an energy storage system, and the first that uses lithium iron phosphate battery chemistry. Lithium iron phosphate batteries have been proven to be safer, cleaner, and longer lasting than ordinary lithium ion batteries.
The NV14 system has a high storage capacity of 14.4 kilowatt hours and delivers 7.6 kW of continuous power, easily outperforming competitors in its class. It can connect with any residential solar installation—new or existing, AC or DC. With the NV14, homeowners can design a system that is tailored to their needs.
The NeoVolta NV14 is also a sound investment: Homeowners can see significant savings on their monthly utility bill. That’s because the energy generated while the sun is shining can be stored in the NV14’s battery and used during evening “peak demand” hours when utility rates are often twice as high.
And if the power goes out, which is becoming a way of life in California, the NV14 automatically disconnects from the grid and seamlessly continues to power a home’s critical loads. Homeowners who need even more storage capacity can add a second NV14 battery without the expense of installing another entire system (inverter and battery); this option will be available in December 2019.
“Approval from the California Energy Commission is a major milestone for the NV14 advanced energy storage system,” said Brent Willson, CEO of NeoVolta. “With this certification, every homeowner can have confidence in our system’s safety, performance, and reliability, while also qualifying for California solar incentives.”
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.