U.S. Power Grid Reliability Is At Risk This Summer, Highlighting the Need for NeoVolta Battery Backup

Mar 27, 2023

NERC's Summer Reliability Assessment Warns of Resource Inadequacy Due to Underprepared Generation and Transmission Facilities, Emissions Restrictions, and Peak Demand

U.S. Power Grid Reliability Is At Risk This Summer, Highlighting the Need for NeoVolta Battery Backup

SAN DIEGO, June 06, 2023 (GLOBE NEWSWIRE) -- NeoVolta Inc. (NASDAQ: NEOV) – As another summer season approaches, the North American Electric Reliability Corporation (NERC) warns of an elevated risk of grid outages throughout two-thirds of the U.S. NERC's 2023 Summer Reliability Assessment points to several factors driving this risk from June through September. These include a lack of maintenance in traditional generating plants, a shortage of distribution transformers, new government restrictions on power plant emissions, supply chain challenges facing renewables, the threat of wildfires, and extreme heat causing peak electricity demand.

NERC warns that if summer temperatures spike, many parts of the country—particularly the Southwest, the Midwest, Texas, and the South—could experience energy shortfalls.

NeoVolta Inc., a San Diego–based manufacturer of advanced energy storage systems, keeps homes protected during grid outages with reliable battery backup. The solar energy generated by rooftop panels is stored in a high-capacity battery for emergency use to power critical home circuits during a blackout.

"When the grid goes down for any reason, the entire area is affected," said Brent Willson, CEO of NeoVolta. "This is more than just an inconvenience. Millions of Americans work from home or have life-threatening conditions that require electrical power for vital medical equipment or keeping medications refrigerated. A prolonged blackout is potentially devastating. Homeowners need to have an emergency plan for power outages, and NeoVolta energy storage is the solution that offers protection and peace of mind."

NeoVolta storage systems are designed for safety and performance. They use lithium iron phosphate battery chemistry, the nonflammable and nontoxic alternative to lithium ion. NeoVolta's flagship NV14 energy storage system has a very high storage capacity of 14.4 kilowatt-hours, expandable to 24.0 kWh with the optional NV24 battery—without the expense of a second inverter. The system's smart inverter discharges 7.7 kilowatts of instantaneous power, more than most mainstream competitors. With this combination of high storage capacity and high power, homeowners can run more household appliances and features for much longer.

For its superior safety, performance and compatibility with any solar system, new or existing, the NV14 has been named one of Solar Power World's top storage products four years in a row.

About NeoVolta - NeoVolta designs, develops, and manufactures advanced energy storage systems for both residential and industrial use. Its storage solutions are engineered with lithium iron phosphate (LiFe(PO4)) battery chemistry, which is clean, nontoxic, and nonflammable. The residential-focused NeoVolta 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. The system's 6,000-cycle battery life, one of the longest on the market, translates to 16.5 years of useful life, based on a full charge and discharge each day. The NV14 has passed the product safety standards set forth by Underwriters Laboratories (UL) for battery energy storage safety testing.

For more information visit: http://www.NeoVolta.com email us: [email protected] or call us: 858-239-2029

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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ab05607b-acdc-4d2c-9ba5-57f70b39b9d4

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