- The global solar energy market is forecasted by Fortune Business Insights to rise from $3.33 billion in 2022 to over $20 billion by 2030
- Turbo Energy S.A. will be part of the explosive growth, as tech-infused photovoltaics become instrumental in more efficient use of solar energy
- Turbo Energy S.A. is a leader in the residential markets in Spain, offering a complete lineup of Li-ion batteries, inverters, software, and their turnkey product, Sunbox
The world is facing a critical juncture. Our dependence on fossil fuels has demonstrably contributed to climate change, necessitating a global shift towards cleaner, more sustainable energy sources. Solar energy, harnessed through photovoltaic (“PV”) technology, offers a promising solution. However, to truly unlock its potential and pave the way for a more sustainable future, advancements in technology are crucial.
The answer resides in the exciting world of tech-infused photovoltaics, the path towards widespread solar harvesting and energy management, and the potential role Turbo Energy (NASDAQ: TURB) can play in this revolution.
The Rise of Tech-Infused Photovoltaics:
Traditional PV panels have served as the workhorses of solar energy generation. However, limitations exist and have become increasingly clear in recent years. Efficiency rates, the percentage of sunlight converted to electricity, are often capped, and energy production can fluctuate based on weather conditions. Here’s where technology steps in.
Scientists are constantly innovating in materials science, creating next-generation products. Perovskite solar cells, for example, hold immense promise with the potential to surpass the efficiency limits of traditional silicon-based panels. Artificial Intelligence (“AI”) has percolated into nearly all walks of life today, including photovoltaics. AI, which Turbo Energy leverages, can optimize panel use, manage energy production and storage more efficiently.
AI dovetails with IoT (Internet of Things), where sensors in solar panels can provide real-time data on performance, enabling proactive maintenance and maximizing output. Lastly, integrating solar energy into “smart grids” allows for a more dynamic and interconnected energy ecosystem, enabling efficient distribution and balancing of power demands.
Cumulatively, these technological advancements are transforming photovoltaics, generating more electricity from the same amount of sunlight, and subsequently using it more efficiently. They will be a driving force in a global solar energy market forecast by Fortune Business Insights to rise from $3.33 billion in 2022 to over $20 billion by 2030.
TURB: the Road to Sustainable Energy
Turbo Energy S.A., which just came public in September, designs, develops and manufactures equipment for the generation, management, and storage of photovoltaic energy in Spain, Europe and internationally. Positioned at the intersection of technology and energy, the company is pioneering the path to sustainable distributed (power is produced close to where it is consumed) energy future that demands a multifaceted approach.
Turbo Energy’s product portfolio includes lithium-ion (Li-ion) batteries, multiple models of inverters, software system, and its new all-in-one Sunbox that combines all the components necessary to operate and protect a PV installation.
The company is one of the leaders that introduced Li-ion batteries for photovoltaic energy storage in Spain. Primarily for the home energy storage market, the company’s batteries have capacities from 2.24 kWh to 5.1 kWh in 24 and 48 volts. In addition, its 48V / 5.1 kWh units are available in a dual battery system.
In communication with the inverter, Turbo Energy’s software monitors energy flows between the photovoltaic panels, household consumption, storage and an optional electric vehicle charging station. The software allows users to customize an automatic backup mode based on weather forecasts, or manually select which part of the battery will be reserved for possible power outages. It also allows the battery to be used in a peak shaving mode, which incorporates AI to trigger battery power when grid energy is most expensive, effectively reducing the amount of high-cost power drawn from the grid.
Not Just Energy. More Energy, Better Managed.
The future of energy is undoubtedly tech driven. PV has long been heralded for its potential and is the best understood sustainable energy by consumers. Yet, it has been critiqued for certain limitations, obstacles that companies like Turbo Energy are overcoming today. Advancements in photovoltaics offer a path towards a sustainable future powered by the sun. Companies like Turbo Energy S.A., with their focus on cleantech and energy solutions, have the potential to play a role in this revolution. As technology continues to evolve and solar energy becomes more efficient and cost-effective, we can expect a paradigm shift in how we generate, manage, and consume energy, paving the way for a cleaner and more sustainable future.
For more information, visit the company’s website at www.Turbo-e.com.
NOTE TO INVESTORS: The latest news and updates relating to TURB are available in the company’s newsroom at https://ibn.fm/TURB
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