- The residential sector proves hard to decarbonize as GHG emissions from buildings hit a new high in 2022, despite renewable energy surpassing coal generation for the first time in 60 years
- Consumer Electronics Show 2023, one of the world’s most influential tech trade shows, gives us a glance into the all-electric, high-efficiency, grid-interactive homes of the greener future with a lineup of cutting-edge technologies designed to improve people’s lives and tackle environmental challenges
- As eco-friendly technologies gain traction across the board, GeoSolar appears well-positioned to benefit as rapid electrification continues and we turn to renewable sources for electricity generation
Although renewable energy surpassed coal generation for the first time in at least six decades, as sources like wind, solar, and hydro climbed to generate 22% of the nation’s total electricity supplies, U.S. greenhouse gas emissions kept increasing over the past year. A recent report published by the Rhodium Group, a leading independent research provider, shows that emissions from buildings and transportation – two sectors that have historically been proven difficult to go green – went up in 2022, pushing the total U.S. emissions up by 1.3% over the past year (https://ibn.fm/n6uKO). However, companies like GeoSolar Technologies (“GST”), a Denver-based climate technology company, work to drive the building sector back on track to a greener future. Its SmartGreen(TM) Home system is developed to maximize residential energy efficiency while minimizing carbon footprint by transforming how existing homes, commercial buildings and newly built homes are powered, heated, and cooled with renewable resources.
The residential sector has long been known as one of the largest contributors to greenhouse gas (“GHG”) emissions. In 2022 only, emissions from buildings grew 6% due to exceptionally cold weather. Burning fossil fuels in buildings accounts for roughly 10% of U.S. carbon emissions. Still, the impact jumps to more than a third of the country’s total when carbon-emitting electricity that can be replaced by rooftop solar panels are added – which makes home electrification an essential element of combating climate change (https://ibn.fm/ZpINF).
So, it comes as no surprise that one of the notable trends at the Consumer Electronics Show 2023 – an event where thousands of tech companies unveil consumer products they are gearing up to launch – is focused on devices that help homeowners to manage home energy use, including solar panels, EV chargers, battery packs and systems for smart management of the load of appliances.
The latest CES show gives us a glimpse into the home of the future — one that efficiently heats, cools, and powers itself using electricity that comes from the utility power grid or the roof solar panels and that can be stored in batteries, or even shared with neighbors across power grids. Although only 10% of U.S. homes currently have these advanced technologies, homebuilders, contractors, and even utilities are increasingly viewing this rising green tide as unstoppable.
But wholesale electrification or the shift to electric heating and cooling and transportation will create a massive additional strain on the already stressed grid, often driving regionwide grid shortfalls during extreme weather events. Moreover, building a power grid infrastructure that can cope with rising demand costs billions of dollars and takes decades.
Here, renewable energy like solar can help. Solar panels allow homeowners to manage electricity, while home batteries can provide predictably priced power independence from power suppliers and a reliable source of backup power in the case of grid breakdown (https://ibn.fm/8ENc9). The latest CES show demonstrates that electric homes can be designed to connect and coordinate when and how they use electricity to smooth those stresses, and entire neighborhoods could connect into virtual power plants – self-balancing, self-supporting clean energy networks that interoperate with the grid when it’s working – or microgrids that can keep themselves powered when the larger grid goes down.
GeoSolar Technologies uses a variety of renewable energy sources to adopt a more holistic approach toward environmentally friendly and energy-efficient buildings of the future. With geothermal and solar technologies at its core, SmartGreen(TM) Homes aim to allow owners to disconnect from the electric grid without using any fossil fuels. The patent-pending integrated system comprises rooftop photovoltaic solar panels designed to capture energy from the sun to fulfill the home’s electricity demand for home appliances and electric car charging stations. Geothermal systems use stable temperatures of the earth for efficient heating and cooling, while the proprietary air purification unit is designed to deliver healthy and safe indoor air quality. With this integrated solution that combines solar power, geothermal, and other green technologies into one holistic system, GeoSolar appears well-positioned to benefit from the massive momentum the renewable industry is building today.
For more information, visit the company’s website at www.GeoSolarPlus.com.
NOTE TO INVESTORS: The latest news and updates relating to GeoSolar Technologies are available in the company’s newsroom at https://ibn.fm/GST
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