NeoVolta NV24’s Unique Design Provides Consumers with Low Cost Per Kilowatt-Hour
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NV24 Add-On Capability Provides Great Option for Higher Capacity Requirements
SAN DIEGO, Nov. 18, 2020 (GLOBE NEWSWIRE) -- NEOVOLTA INC. (OTCQB: NEOV) – While home solar storage has become more affordable than ever, battery cost and storage capacity vary dramatically. In terms of cost per kilowatt-hour, some of the most economical systems on the market come from San Diego–based NeoVolta, maker of the NV14 battery and NV24 add-on.
The NeoVolta NV14 stores 14.4 kilowatt-hours of energy, enough to power critical loads for an average household overnight. Homeowners who need even more storage can stack the NV14 with the NV24 and expand to 24.0 kWh of energy storage. This represents one of the highest-capacity systems in its class. Adding the NV24 does not require the expense of installing a second inverter, a significant savings. The NV14 plus NV24 system is competitively priced, with quick installation and no maintenance costs, all of which translates to a low cost per kilowatt-hour.
The NV14 plus NV24 also charges and discharges 7.7 kilowatts of instantaneous power, more than most mainstream competitors. The combination of high power and high capacity means NeoVolta storage systems can run more appliances for a longer time. This maximizes energy bill savings while providing superior comfort, convenience, and connectivity during a blackout.
What’s more, NeoVolta systems are designed for safety. Their advanced lithium iron phosphate chemistry has been proven to be safer, cleaner, and longer-lasting than ordinary lithium ion batteries. They meet the standards of Underwriters Laboratories, the world’s most trusted name in product safety certification.
The NV14 and NV14 plus NV24 are eligible for the federal investment tax credit (ITC), which provides the opportunity for 26% in savings in 2020. The tax credit reduces to 22% on January 1, 2021.
“I encourage any Southern California homeowner who’s interested in solar storage to start by comparing storage capacity,” said NeoVolta CEO Brent Willson. “Then get an installation quote, including maintenance costs, to see how the cost per kilowatt-hour for each system measures up. The NeoVolta NV14 plus NV24 can compete with anyone on those terms. And when you consider power output, safety, and life span, we think it’s an easy choice.”
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.
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