NeoVolta Partners with Sungage Financial to Provide Homeowners with Affordable Purchasing Options

Rhea-AI Summary

NeoVolta Inc. has partnered with Sungage Financial to offer affordable financing options for its energy storage solutions, allowing homeowners to finance systems over 10 years at rates as low as 0.99%. Sungage provides up to $50,000 for storage batteries, including site preparation costs. This collaboration aims to increase accessibility to NeoVolta’s products in response to the growing demand for home energy storage amid rising power outages. The NV14 energy storage system, known for its superior safety and performance, continues to expand its market reach in California and neighboring states.

Positive

• Partnership with Sungage Financial offering financing options at rates as low as 0.99%, making energy storage solutions more accessible.
• Increased demand for NeoVolta's products, particularly the NV14 energy storage system, as power outages rise due to extreme weather.
• Expansion of installation network across California, Nevada, Arizona, and Utah, indicating market growth potential.

Negative

• None.

Consumers Can Finance a System Over 10 Years at Rates as Low as 0.99%

SAN DIEGO, April 06, 2021 (GLOBE NEWSWIRE) -- NeoVolta Inc. (OTCQB: NEOV) – NeoVolta Inc., manufacturer of Smart Energy Storage Solutions, has partnered with Sungage Financial to make solar energy storage as affordable as possible for more homeowners. After considering other financing options, NeoVolta chose Sungage for their combination of features and benefits.

Sungage finances up to $50,000 for storage batteries and allows 15% of the total for site prep expenses. They offer 5- and 10-year terms with APRs as low as 0.99%. Sungage also has the most customer-friendly tax credit deferral, with no penalties or interest rate charges if repayment is delayed.

To apply, homeowners can coordinate with their installer on costs and then complete an online application. The process is fast and easy, and the underwriting is very flexible so more homeowners get approved. Finally, Sungage has a strong reputation for exceptional customer service, with phone calls answered live by experienced solar professionals.

“Sungage’s low financing rates will allow more homeowners to enjoy years of utility savings and long-lasting blackout protection with NeoVolta energy storage,” said CEO Brent Willson, CEO of NeoVolta. “Our energy storage solutions are a very smart investment, and it’s never been easier to get started.”

The partnership with Sungage is expected to help fuel NeoVolta’s continued success in the rapidly growing home energy storage market and was brokered with the help of NeoVolta’s exclusive distribution partner, PMP Energy. “The demand for NeoVolta has never been greater,” said PMP Energy’s EVP of Sales, Tony Paoli. “Enabling more people to have access to this technology through a better financing program made this an ideal collaboration.”

Devastating power outages throughout the country, caused by wildfires and extreme weather, have underscored the urgent need for home backup power. In recent months, NeoVolta has expanded its installation network across the entire state of California and into Nevada, Arizona, and Utah.

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 inverter discharges 7.7 kilowatts of instantaneous power, more than most mainstream competitors.

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 two years in a row.

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.

For more information visit: http://www.NeoVolta.com email us: IR@NeoVolta.com 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.