SDG&E Pushing to Raise Customers’ Minimum Monthly Bill 280%

Fight Back by Using NeoVolta’s NV14 Home Energy Storage System to Offset Peak Time of Use Pricing

SAN DIEGO, Calif., Sept. 03, 2019 (GLOBE NEWSWIRE) -- Residential solar customers in San Diego County may soon be facing a dramatically higher utility bill. That’s because San Diego Gas & Electric wants to raise its minimum utility charge from $10 to $38 per month.

SDG&E has submitted the proposal to the California Public Utilities Commission, which is expected to decide by spring of 2020.

According to SDG&E, the proposal would ensure that solar and low-use customers pay their fair share for the operation and maintenance of the power grid. Skeptics say it’s nothing more than a profit scheme designed to discourage homeowners from going solar.

SDG&E is an investor-owned and very much for-profit utility. Its parent company, Sempra Energy, reported second-quarter 2019 earnings of $354 million earlier this month. This came just a few weeks after California’s investor-owned utilities received a $10.5 billion gift from their customers: On July 12, Governor Gavin Newsom signed a $21 billion wildfire fund in which ratepayers will cover half of any damages facing a power provider if its equipment causes a wildfire.

“This is just another example of a big investor-owned utility trying to undermine solar. This notion that solar customers are somehow shifting the financial burden to non-solar customers is one of their favorite myths,” said Brent Willson, CEO of San Diego–based NeoVolta. “I urge every SDG&E ratepayer to contact the California Public Utilities Commission and demand that they reject this outrageous proposal. You can also fight back and keep more money in your pocket by pairing any home solar installation with NeoVolta’s NV14 energy storage system.”

Energy generated by rooftop panels during daylight is stored in the NV14’s energy storage system and used to power your home during evening “peak demand” hours, when Time of Use rates are often twice as high. The system’s inverter can be coupled to a DC panel for greater efficiency and additional savings. With the NeoVolta smartphone app, users can monitor the system’s performance anytime. And, in the event of a blackout, the NV14 will automatically disconnect from the grid and continue to power your home’s critical loads indefinitely.

About NeoVolta - NeoVolta designs, develops and manufactures utility-bill reducing residential energy storage batteries capable of powering your home even when the grid goes down. With a focus on safer Lithium-Iron Phosphate chemistry, the NV14 is equipped with a solar rechargeable 14.4 kWh battery, 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.

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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 continued increase in utility rates. 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.