Tuya’s IoT solutions help fight global warming
SANTA CLARA, Calif. , August 23, 2022 /PRNewswire/ — Tuya Smart (NYSE: TUYA, HKEX: 2391), a global provider of IoT development platform services, has taken the sustainability initiative into its own hands.
Recently, Tuya released a mini program suitable for all households to help general users save energy even smarter and easier. The mini program can monitor household electricity consumption in real time and is integrated with energy saving tactics. With the mini-program, users can accurately track the electricity consumption of each appliance or area in the home, and then be notified when electricity consumption is not needed. For example, the mini program sends a lights-off notification to users when it’s time to sleep and if the lights are not turned off.
A major challenge for sustainable development, climate change has become a global issue. Many countries are striving to achieve “carbon neutrality” in order to minimize the impact of greenhouse gases on the climate and the environment.
At the 75th session of the United Nations General Assembly (UN-GA), the UN presented the goal “to peak carbon emissions by 2030 and achieve carbon neutrality by 2060”. , entering a new stage in climate governance. Environment, climate risk, low carbon, energy conservation and carbon reduction are becoming the new global consensus and universal ESG standards. Faced with the growing demand for energy efficiency and carbon reduction, traditional solutions are obviously not enough. A shift in supply and demand and technological innovations will inevitably bring new developments and opportunities.
Among them, IoT solutions have become a vanguard in the field of energy conservation and carbon emission reduction with its technological advantages, including intelligent metering of power consumption, collection of flexible data, visibility, controllability and scientific decision-making. But enabling the synergy of IoT technologies and energy efficiency is no easy task. It requires long-term development in the industry and continuous exploration of different use cases to build an exclusive solution in line with the latest trends.
In early June this year, Tuya launched “Smart for Purpose”, a social media campaign that continues to practice the company’s responsibility to employees, industry and society in the areas of people care. aging, energy conservation, etc. The campaign also encouraged Tuya’s global business partners to participate in ESG practices and provide sustainable solutions and services to customers and society.
Tuya’s sustainability initiative has positively impacted the global market through various applications and demonstrated the role of an IoT company in achieving carbon neutralization.
Achieving energy efficiency through IoT technology
Genuine environmental protection and carbon reduction does not mean drastic changes in people’s daily habits, but building a low-carbon and green lifestyle in an achievable and universal way.
A good example would be the smart meter socket developed by Smart tuya and its global partners. The product can be controlled via mobile phones and voice recognition. Users can set the timer, turn it on/off remotely, and even control the switches of electrical appliances through sensors to reduce energy consumption.
According to statistics, the smart metering socket powered by Tuya has saved nearly $200 million in the electricity bills of users around the world – a carbon reduction equivalent to planting 40 million trees a year.
For people who often forget to turn off the lights before leaving their house, Smart tuya launched the smart motion sensor light switch solution. The solution supports switching between manual and automatic sensing modes, enabling Tuya partners to build energy-saving and user-friendly smart switches. In automatic mode, the solution supports custom settings, such as sensitivity and delayed action. In manual mode, it supports colored lights, white light settings and countdown functions.
Turning off lights automatically to avoid leaving lights on when no one is home would definitely help consumers save energy and money effectively.
Another example would be Tuya’s collaboration with iHelios, a UK-based company specializing in integrated heating and building control systems.
By partnering with Tuya, iHelios has launched an innovative and eco-friendly home heating system, which has saved consumers over 30% on their electricity bills. Lower electricity bills also mean lower energy consumption. The collaboration was not only successful in saving energy and reducing carbon emissions, but also resulted in a 40% increase in customer base for iHelios.
The above examples are not individual cases. Tuya’s IoT capability can now be applied to various aspects of users’ daily lives.
As the IoT permeates our daily lives, bringing people new smart home experiences, Tuya Smart energy efficiency and carbon reduction initiatives don’t stop there.
The world now faces a major bottleneck in the supply of energy resources, and the situation has only worsened this year due to geopolitical tensions. “The market won’t clear until 2024,” said Gergely Molnar, energy analyst at the International Energy Agency. “By then, these financial strains will be in place.”
Countries and energy companies are committed to finding more efficient solutions to save energy. So far, thermostats are considered the most popular and trending IoT product.
According to an Australian government report, installing smart thermostats can help residential customers save 10% of their air conditioning energy use. According to the report published by Mordor Intelligence, the market size of smart thermostats is expected to reach US$3.3 billion by 2026 and is expected to grow at a CAGR of 23.1% between 2021 and 2026.
The smart thermostat solution developed by Tuya can monitor temperature and humidity levels and can automatically switch between different modes, keeping the house temperature within an appropriate range. This not only brings more convenience and convenience to users, but also saves energy and reduces carbon emissions, making the product a bestseller in the smart home market.
Lasting value created by IoT capability
As energy conservation and carbon reduction become the new global consensus, more and more innovative technologies are needed to inspire people to participate in a low-carbon and green lifestyle.
Tuya’s IoT capabilities not only bring great sustainable value, but they have also created solutions for energy conservation and carbon emission reduction.
One of the main reasons for this impact is that the technology does not force users to change their previous behavior and habits. On the contrary, it allows people to adopt an ecological lifestyle in a more intuitive and easier way. More importantly, with its IoT capabilities and rich ecosystem, Tuya has been able to increase the value of its products for home appliance brands by accurately observing the demand for carbon reduction.
Although the cases and results mentioned above do not demonstrate the full value proposition of Smart tuyathe company has unquestionably built an ESG reputation thanks to its business model and its credible IoT capabilities in line with the demand for sustainable development.
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