- Artificial Intelligence is expected to both, drive global energy consumption whilst simultaneously, increasing the efficiency of global power usage
- Turbo Energy is seeking to harness artificial intelligence in the manufacture and development of their residential energy solutions, which allow households to capture and store solar energy
- The Company has recently entered into an agreement with Solar360, the energy-focused subsidiary of Repsol and Telefonica, in a move to dramatically increase their distribution footprint
The growing demands of artificial intelligence (“AI”) are set to drive a sharp increase in data center storage capacity, with the latter expected to grow from 10.1 zettabytes (“ZB”) in 2023 to 21.0 ZB in 2027, a five-year compound annual growth rate of 18.5%. Whilst this increased storage capacity is set to drive a huge proliferation in data centers, it will similarly drive a significant surge in energy usage, with data centers forecast to consume over 1% of global electricity in the coming years (https://ibn.fm/G8Vaz). Nonetheless, AI is simultaneously being harnessed to reduce energy expenditure – Google recently revealed that its AI-driven approach to data center cooling had led to a reduction of about 40 percent in energy use, the equivalent to taking 64,000 cars off the road annually.
The use of artificial intelligence is gaining increased relevance in terms of tackling carbon emissions, with recent analysis by global consultants McKinsey suggesting that AI-enhanced manufacturing could reduce global greenhouse gas emissions by 10-20 percent. Similarly, and within the energy sector, the adoption of AI technologies – which range from smart thermostats to more efficient solar panels – are forecast to drive a significant reduction in utility emissions in the coming years.
Turbo Energy (NASDAQ: TURB), a designer, developer and manufacturer of photovoltaic energy generation, management, and storage equipment has sought to capitalize on this growing trend. The Company’s ‘Sunbox Home’ system encompasses an all-in-one AI-powered energy storage solution, designed to assist households in managing their power consumption. Directly linked to a household’s solar panel generation unit, the Sunbox system allows users to choose between settings including ‘maximum consumption’ or ‘maximum savings’, to conserve a portion of its energy reserves in the event of unexpected electricity blackouts or rather, sell excess power back onto the grid. The groundbreaking energy storage system additionally boasts the capacity to track weather forecasts, thus ensuring its batteries are fully charged in the event of a storm (https://ibn.fm/M1cdr).
It is this very focus on renewable energy systems and relentless dedication towards AI-driven technological innovation that Turbo Energy’s CEO Mariano Soria credits as the driver for Turbo Energy’s recent tie-up with Repsol and Telefonica’s energy-oriented subsidiary, Solar360.
“Turbo Energy’s Artificial Intelligence and optimization system is the best on the market,” stated Soria in a recent interview. “Two years ago, we began working on the development of software linked to Artificial Intelligence. The goal was for storage to be smart, that could not only serve the purpose, but save money directly from the end user’s pocket. [In addition to having] the capacity to offer the end customer the best solution in economic savings [our] software is the basis for the continued development of the company [as well as giving us] the ability to incorporate other elements in the future]. We envision the ability to make use of it, not only for individuals but for communities such as energy communities or virtual power plants.”
The global AI in energy market size – which encompasses the deployment of AI technologies towards optimizing energy consumption and reducing costs across buildings, industrial processes, and power grides – is forecast to grow from a value of $4 billion in 2021 to an annual market size of $19.8 billion by 2031, equivalent to a CAGR of 17.4% over the course of the decade. With a focus on technological innovation and now, a growing distribution footprint across Europe and the world, Turbo Energy looks well placed to capitalize on the opportunity at hand.
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
About GreenEnergyStocks
GreenEnergyStocks (“GES”) is a specialized communications platform with a focus on companies working to shape the future of the green economy. GreenEnergyStocks is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, GES is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists, and the general public. By cutting through the overload of information in today’s market, GES brings its clients unparalleled recognition and brand awareness. GES is where breaking news, insightful content and actionable information converge.
To receive SMS alerts from GreenEnergyStocks, text “Green” to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit https://www.GreenEnergyStocks.com
Please see full terms of use and disclaimers on the GreenEnergyStocks website applicable to all content provided by GES, wherever published or re-published: https://www.greennrgstocks.com/Disclaimer
GreenEnergyStocks
Los Angeles, CA
www.GreenEnergyStocks.com
310.299.1717 Office
[email protected]
GreenEnergyStocks is powered by IBN