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SAN DIEGO, Aug. 19, 2019 (GLOBE NEWSWIRE) -- On August 14, NeoVolta successfully connected its NV14 energy storage system (ESS) to an existing AC string inverter solar system. The homeowner wanted to replace their 10-year-old string inverter and install more solar panels. The result was installation of a new AC micro-inverter solar system, conversion of the existing AC string inverter system to DC, and installation of an NV14. The homeowner now has plenty of solar power and a highly capable and efficient ESS.
For this AC and DC solar installation, both AC and DC solar systems awake with sunrise and begin powering the critical loads first. Once those critical loads are fully powered, the excess solar recharges the NV14 battery system while powering the critical loads. Once the battery system is fully recharged, excess solar production is sent to the main service panel to power those loads or transfers excess power back to the utility as Net Metering credits, or both. This setup maximizes both home loads and battery charge simultaneously. This also helps to ensure that the battery is fully charged sooner in the morning, which decreases the risk of a grid outage on low batteries. It also minimizes the amount of inverting, improving overall efficiency. When the sun sets, the NV14 battery system powers the critical loads until sunrise the next morning. In the event of grid outage, the critical loads are powered by the battery system and the solar system when the sun is shining.
NeoVolta designed its NV14 home energy storage system to help homeowners fight back against the utility companies. Energy generated during the daytime can be stored in the NV14’s clean, cobalt-free battery and used during evening “peak demand” hours when utility rates are often twice as high. The system’s inverter can be coupled to a DC panel for greater efficiency and additional savings. And in the event of a blackout, the NV14 will power a home’s critical loads indefinitely.
“Our NV14 is capable of connection with any residential solar system. In the past, solar systems had to include an inverter to convert the DC solar power to AC. The NV14 includes a highly capable hybrid inverter with our battery system, so customers can save by installing the NV14 with DC solar panels only,” said Brent Willson, CEO of NeoVolta. “The NV14 is an ideal retrofit for existing solar customers who are concerned about SDG&E’s Time-of-Use rates and grid outages. New solar customers can also benefit by not having to install inverters with a new solar installation.”
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. NeoVolta is presently selling to installers in Southern California.
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.