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SAN DIEGO, Sept. 16, 2019 (GLOBE NEWSWIRE) -- Southern California Edison, the second-largest electric utility in the U.S., has approved NeoVolta’s NV14 home energy storage system for grid operations. The system was successfully installed at a home in Garden Grove on August 6, marking NeoVolta’s first expansion outside of San Diego County.
SoCal Edison now joins San Diego Gas & Electric, which approved the NV14 in June. The two utilities combined serve approximately 18 million people.
“Being approved for interconnection with SoCal Edison’s grid is a major milestone in the California rollout of our advanced energy storage system,” said Brent Willson, CEO of NeoVolta. “With this approval, NeoVolta’s coverage area now includes nearly all of Southern California.
“Southern Californians enjoy plenty of sunshine, but we also face some of the highest utility costs in the country. With the NV14, you’ll store solar energy during daylight and use it at night, when utility rates are highest. The NV14 provides a great hedge, as the utilities continue to adjust their rate programs to counter solar owner savings. And if the grid goes down for any reason, solar panels alone won’t keep the lights on. But the NV14 will instantly deliver the power to keep your home comfortable and connected.”
With the NeoVoltaNV14 home energy storage system, homeowners get maximum savings on their utility bill and take control of their own energy needs. Backed by a ten-year warranty, the NV14 can connect with any residential solar installation, new or existing. Energy generated by rooftop solar during the daytime is stored in its 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.
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.