California Approves NeoVolta's NV24 Solar Battery For Client Low cost – GlobeNewswire
SAN DIEGO, May 20, 2020 (GLOBE NEWSWIRE) – NEOVOLTA INC. (OTCQB: NEOV) – California homeowners have yet another reason to install a NeoVolta NV14 solar battery with the optional NV24 add-on. The high-performing, high-capacity NV24 has received product eligibility approval to participate in the state's self-generation incentive program (SGIP).
The SGIP rebate, administered by the California Public Utilities Commission and available only in California, gives utility customers the opportunity to get cash back to make their homes more energy self-sufficient. Recent changes have made it much easier to take advantage of this financial incentive for residential solar storage systems. San Diego Gas & Electric and Pacific Gas & Electric tariff payers receive a discount of up to $ 4,814 on an NV24. Edison utility customers in Southern California receive discounts of up to $ 6,740.
The NV24 is also entitled to the Federal Investment Tax Credit (ITC) available through 2021, which offers the opportunity to save an additional 26%. By combining the SGIP incentive with the federal ITC, SDG&E and PG&E tariff payers could save up to $ 9,494 on installing a high-capacity NV24 storage system – potentially 53%. SCE customers could save up to $ 11,420 – a potential saving of 63%.
For information on applying for SGIP Incentives in NeoVolta-served areas, see the program links for San Diego Gas & Electric, Edison in Southern California, and Pacific Gas & Electric.
The storage capacity of the NV24 of 24.0 kilowatt hours is one of the highest in its class. This allows users to save even more solar energy for evening use during peak utility costs. It also provides a longer lasting backup power supply in the event the power grid fails. Californians are particularly vulnerable to widespread public safety shutdowns in response to forest fire threats. Millions across the state felt the pain of forest fire outages in the fall of 2019, and residents can expect another decade of catastrophic blackouts.
The NV24 discharges and charges 7.7 kilowatts of instantaneous power, more than most of its competitors. And NeoVolta systems are designed for security. Your clean, cobalt-free battery uses lithium iron phosphate chemistry, which has been shown to be more refractory and longer-lasting than common lithium ions.
"Every California homeowner with a solar roof should apply for the SGIP rebate," said Brent Willson, CEO of NeoVolta. “This program, in conjunction with the federal investment tax credit, offers the opportunity to subsidize a significant portion of the costs. Discounts are usage-specific and are given according to availability. It is imperative that customers reserve their incentives before their local utility allocation is depleted. "
About NeoVolta – NeoVolta designs, develops and manufactures utility bills to reduce household electricity bills, so you can keep your home running even if the grid fails. Focusing on safer lithium iron phosphate chemistry, the NV14 is equipped with a rechargeable 14.4 kWh solar battery, 7,680 watt inverter and a web-based energy management system with 24/7 monitoring. By storing energy instead of feeding it back into the power grid, consumers can protect themselves from power outages, avoid expensive power peaks with peak demand that are charged by utility companies when solar modules are not producing, and get one step closer to grid independence.
Forward-looking statements: Some of the statements in this press 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 that involve risks and uncertainties. Although NeoVolta believes that the expectations contained in such forward-looking statements are reasonable as of the date of publication, expectations may prove material different from the results expressed or implied in such forward-looking statements. NeoVolta has attempted to identify forward-looking statements by using terminology including "believes", "estimates", "anticipates", "expects", "plans", "plans", "projects", "plans". intends to & # 39; & # 39; & # 39; & # 39; Potential, & # 39; & # 39; & # 39; can, & # 39; & # 39; & # 39; could, & # 39; & # 39; & # 39; could, & # 39; & # 39; & # 39; will, & # 39; & # 39; & # 39; should, & # 39; & # 39; & # 39; & # 39; approximately & # 39; 'Or other words that convey uncertainty about future events or results used to identify these forward-looking statements. These statements are predictions only and involve known and unknown risks, uncertainties and other factors, including those described in the "Risk Factors" section of NeoVolta Forms 1-A filed with the Securities and Exchange Commission ("SEC") and updated from time to time his other public filings with the SEC. All forward-looking statements contained in this press release speak only as of the date of their publication. NeoVolta assumes no obligation to update any forward-looking statements contained in this press release to reflect events or circumstances that occur after their date or to reflect the occurrence of unexpected events.
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