- Spain has emerged as a leader within the household solar energy market, with installed household capacity of 5.2 gigawatts as of 2022
- Turbo Energy, a Valencia, Spain-based designer, developer, and manufacturer of photovoltaic energy equipment has emerged as a key player within the residential solar market in Spain
- The company recent revealed that its GoSolar household solar energy system would be marketed by the energy division of Movistar, Spain’s largest telecommunications firm
- In addition to its presence within the residential market, Turbo Energy has announced ambitions to move into the commercial and industrial solar market going forward
Spain has long been a pioneer within the realm of renewable energy technologies. The country has adopted a twin goal of achieving net zero carbon neutrality by 2050, at which point the nation also anticipates meeting 100 percent of its energy requirements from renewable energy sources. Solar capacity in particular has been at the forefront of the movement; Spain has seen its installed solar capacity more than quadruple over the past five years, ranking as the fifth country worldwide in 2022 in terms of new solar capacity additions. The momentum is expected to continue unabated; the Spanish government had laid out plans to award at least 1.8 gigawatts of solar photovoltaic energy per year until 2026 – an annual increase equivalent to powering nearly 1.6 million homes (https://nnw.fm/aPKua).
The momentum has been similarly robust in the Spanish solar household consumption market. The installed capacity of household solar energy systems increased by 2.5 gigawatts in 2022, twice the amount registered in the previous year, taking the aggregate household PV capacity in the country to over 5.2 gigawatts (https://nnw.fm/L3fgk). Turbo Energy (NASDAQ: TURB), a designer, developer and manufacturer of photovoltaic energy generation, management, and storage equipment has emerged as a key player within the burgeoning market for household solar energy systems in both, Spain and the broader European region.
Turbo Energy recently announced that it had begun marketing its revolutionary ‘GoSolar’ household solar energy system in partnership with Solar360, the energy division of Movistar – Latin America’s largest telecommunication company and one of the world’s 500 most valuable companies (https://nnw.fm/uBla3). Comprised of a small microinverter and lightweight, flexible PV panels which can be plugged into a conventional household outlet, Turbo Energy’s GoSolar system allows Spanish households the ability to capture solar energy power within their homes without the need to apply for special permits or recruit professional installation support.
In addition, Turbo Energy’s GoSolar solution comes with a mobile application, allowing end-users to monitor their system’s energy generation. Moreover, it provides customers with an interface to monitor the ensuing reduction in their home electricity costs whilst simultaneously minimizing their carbon footprint.
“It is very gratifying for us to see that Movistar, a leading home-services brand, is committed to Turbo Energy,” said Mariano Soria, General Manager of Turbo Energy. “It encourages us to continue researching and developing products that contribute to the sustainable reduction of energy costs for thousands of homes and businesses.”
In addition to its recent successes in marketing its photovoltaic energy equipment to residential consumers in Spain, Turbo Energy possess the expertise and perspective to expand its product offering into the industrial and commercial side of the market – whilst simultaneously increasing its exposure to global markets. Going forward, the company has revealed plans to expand its presence within the industrial photovoltaic sector with its SunBox energy solution, an all-in-one device integrating the equipment needed for a photovoltaic installation whilst also boasting higher power and capacity limits relative to their household variants.
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://nnw.fm/TURB
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