Willson Discusses California’s Energy Future and the Benefits of Storage Solutions
SAN DIEGO, Jan. 19, 2021 (GLOBE NEWSWIRE) -- NEOVOLTA INC. (OTCQB: NEOV) – NeoVolta CEO Brent Willson was recently interviewed by The Wall Street Resource, a podcast where small-cap investors can follow innovative companies. Willson joined host Jeff Kone to talk about how California’s increased demand for clean energy could lead to more blackouts and higher utility rates, and how solar plus storage can help offset these issues. He went on to highlight NeoVolta’s positioning as a manufacturer and innovator of smart Energy Storage Systems.
The interview was posted today on The Wall Street Resource and is now available free of charge at https://thewallstreetresource.com/webcasts/.
As Willson pointed out, California faces an electricity supply and demand problem. On the supply side, it has one nuclear power plant and one coal-fired plant that will shut down in 2025, and several of its coastal gas plants are headed toward closure. Meanwhile, the state’s demand for electricity is skyrocketing with the push for clean emissions driving the electric vehicle market. Adding an electric vehicle can increase a household’s power consumption by 20% to 40% unless they are producing enough excess solar power to offset the higher usage. California depends on other states for about 30% of its electricity during peak demand, and that need will continue to increase. But with those states also seeing higher demand for electricity, there will not be enough power left over for California.
For California homeowners, this energy shortage would lead to even more blackouts and higher utility rates. The increasingly popular solution: a storage system, which saves a home’s self-generated solar power in a battery for use at night or in the event of a blackout. Nationwide, the residential storage market recently posted its best quarter ever.
Whereas most energy storage systems have ordinary lithium batteries, NeoVolta uses advanced lithium iron phosphate chemistry, a safer and longer-lasting alternative. The NeoVolta NV14 has a very high capacity of 14.4 kilowatt-hours (kWh), expandable to 24.0 kWh with the optional NV24 add-on battery—without the expense of a second inverter. NeoVolta’s inverter discharges 7.7 kilowatts of continuous power, more than most mainstream competitors. The combination of high capacity and high power keeps more household appliances powered for a longer time. NeoVolta is compatible with any rooftop solar panel system, new or existing, AC or DC.
For the second year in a row, the NV14 has been named a Solar Power World top storage product.
NeoVolta’s California distribution network is growing dramatically, with 37 dealers across the state. Installations are also certified in Nevada and Arizona.
“The Wall Street Resource provided a valuable forum for listeners to learn about us,” said Willson. “I appreciated the opportunity to talk about energy storage and how NeoVolta will meet the clean energy needs of California homeowners.”
About NeoVolta - NeoVolta designs, develops and manufactures utility-bill reducing residential energy storage systems capable of powering your home even when the grid goes down. With a focus on safer Lithium-Iron Phosphate (LiFe(PO4)) chemistry, the NV14 is equipped with a solar rechargeable 14.4 kWh battery system, 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. Customers can expand the NV14’s capacity to an industry-leading 24.0 kWh with the optional NeoVolta NV24 add-on battery. NeoVolta has added generator compatibility and is working on other industry leading improvements that will be announced soon.
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 future performance, reliability and safety of NeoVolta’s NV14 storage system and the ability of the NV14 to be successfully integrated with residential backup generators. 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.