- The recent COP28 Conference laid out the world’s plans to both, phase out fossil fuels as well as triple ongoing investment in renewable energy technologies
- The dramatic increase in renewable energy demand, particularly amongst households, is a trend which Turbo Energy is seeking to capitalize on
- The launch of the company’s ‘SunBox’ home system provides end users with the ability to harness and make use of solar energy through a single, standalone product
- Turbo Energy recently announced the start of a distribution partnership with Solar360, a division of Spanish telecom giant, Movistar
Speaking at the United Nation’s Climate Change Conference (COP28) in Dubai last year, COP28 President Sultan al-Jaber revealed the ‘Global Stocktake’, an agreement which heralded the “beginning of the end” of the fossil fuel era by laying the ground for a swift, just and equitable transition, underpinned by deep emission cuts and scaled-up finance (https://ibn.fm/ddVP3). Alongside the landmark statement, the agreement also stipulated the tripling of new investments in renewable energy in coming years. Renewable energy sources like wind and solar have seen their cost structures decline dramatically in recent years, arriving at cost parity with fossil-fuel powered energy sources in several global markets. The decline in renewable energy costs coupled with the exponential rise in fossil fuel prices have led to a dramatic increase in renewable energy demand, a phenomenon which the likes of Turbo Energy (NASDAQ: TURB), a designer, developer and manufacturer of photovoltaic energy generation, management, and storage equipment, have sought to capitalize on.
Despite their higher upfront costs – in early 2023, it cost an average of $18,000 to install a 6kW grid-tied solar system, solar energy home systems have long posed an attractive investment proposition for homeowners. Solar panels have a usable lifespan of 25 years on longer; homeowners who install solar…
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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