SAN DIEGO, July 16, 2024 (GLOBE NEWSWIRE) -- NeoVolta Inc. (NASDAQ: NEOV), a leading provider of advanced energy storage solutions, has announced a joint venture partnership with Store Energy California to bring state-of-the-art battery storage systems to low-income households across California. This initiative leverages state-funded incentive programs to ensure that families can access these vital technologies at no cost, enhancing their energy security and resilience.

Empowering Communities Through Innovative Partnerships

The collaboration between NeoVolta and Store Energy California aims to help low-income families utilize government programs to have battery storage installed in their homes. NeoVolta will provide cutting-edge batteries, renowned for being the longest-lasting and safest product available thanks to their superior Lithium Iron Phosphate (LiFe) chemistry. Store Energy California will facilitate the process by connecting homeowners with approved installers and managing the application and completion of state-funded incentive programs.

Store Energy California is targeting approximately 1.3 million homeowners in California who qualify as low-income. This classification is based on households earning between 50% to 80% of the Area Median Income (AMI) for their region, following the income categories defined by the California Department of Housing and Community Development (HCD). These homeowners may be eligible for various state assistance programs aimed at supporting low-income households.

NeoVolta CEO Ardes Johnson stated, "By partnering with Store Energy California, we are making it easier for low-income families to benefit from these programs, ensuring they have reliable and continuous power. As a California-based manufacturer, we are proud to support our local communities with our high-quality, safe, and durable battery storage solutions."

A Commitment to Continuous Power and Safety

According to Southern California Edison Electric Company, every customer experienced at least one power outage in 2023. This partnership addresses this issue by providing reliable power solutions that keep families safe and connected. NeoVolta's batteries are designed to offer uninterrupted power during outages, providing peace of mind to homeowners.

"Our mission is to help Californians stay powered on and safe through state-funded incentive programs," said Ryan Green, CEO of Store Energy California. "By working with NeoVolta, we are ensuring that more families can stay powered and safe, particularly those in low-income households. This partnership exemplifies Californians supporting Californians, and we are excited to help bring these benefits to our communities."