Tuya Highlights Home Energy Management System and Net Zero Solutions for Smart Energy Industry at CES 2024

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Tuya Smart (TUYA) Unveils Home Energy Management System (HEMS) and Net Zero Solutions at CES 2024

Insights

Energy Sector Analyst

The unveiling of Tuya Smart's Home Energy Management System (HEMS) and Net Zero Solutions represents a significant stride in the smart energy sector. These innovations are poised to enhance energy efficiency and cater to the growing demand for sustainable and intelligent energy solutions. Tuya's collaboration with companies like NIRCEE, Haier Group and Hexing, along with its expansion into international markets, underscores the company's strategic initiative to capitalize on the global shift towards energy optimization and green technology.

HEMS's ability to reduce household energy consumption by an average of 25% and up to 54% in some instances is a testament to the system's efficacy. This level of energy savings can translate into substantial cost reductions for consumers and may influence utility companies to reconsider their pricing models and grid management practices. The integration of Tuya's solutions into smart home ecosystems extends the potential for broader market penetration and adoption, which could impact competitors and drive innovation across the industry.

Sustainability Expert

Tuya Smart's introduction of Net Zero Solutions is a direct response to the escalating urgency of the global climate crisis. With nations setting ambitious goals for carbon neutrality, Tuya's investment in this area is both timely and strategically aligned with market needs. The successful implementation of these solutions in various verticals, including construction and smart cities, indicates a promising avenue for reducing carbon footprints on a larger scale.

The reported energy consumption reductions of 15% to 30% in different implementations showcase the tangible impact of Tuya's technology on sustainability efforts. By enabling intelligent management of resources, these solutions contribute to the overall efficiency of urban energy systems, which is critical for the long-term sustainability of growing urban centers. The adoption of such technologies could serve as a catalyst for policy changes and incentivize further investments in green infrastructure.

Technology Market Analyst

The integration of artificial intelligence (AI) and the Internet of Things (IoT) in Tuya Smart's Net Zero Solutions is indicative of the evolving landscape of the smart technology market. The ability to link smart products within Tuya's ecosystem to create efficient, energy-saving scenarios presents new opportunities for the company to establish itself as a leader in the burgeoning smart city and IoT markets.

The potential market growth for smart energy management systems, driven by the increasing demand for sustainable solutions, could lead to significant revenue streams for Tuya. As developers worldwide seek to integrate intelligent energy solutions into their offerings, Tuya's development kits offer a scalable and customizable approach that could accelerate market adoption and innovation. The company's focus on collaboration and community-building among developers may foster a network effect, bolstering its market position and driving future growth.

LAS VEGAS, Jan. 12, 2024 /PRNewswire/ -- Tuya Smart ("Tuya" or the "Company") (NYSE: TUYA; HKEX: 2391), a global IoT developer service provider, unveiled its innovative Home Energy Management System (HEMS) and Net Zero Solutions at CES 2024, as the highlight of its presentation. The showcase garnered significant attention and acclaim from attendees, reinforcing Tuya's position as a key player in the smart energy industry.

Tuya's HEMS Revolutionizes Household Energy Management

In response to transformative changes in the global energy landscape, Tuya introduced its Home Energy Management System (HEMS). Amid rising global energy consumption and increased demand for stable, self-sufficient, and intelligent household energy, HEMS has emerged as a pivotal breakthrough.

Tuya's HEMS establishes a real-time interactive power supply and consumption relationship, actively managing and executing household energy intelligently. Enabling visual management of energy data such as electricity chain, storage, charging, and consumption, HEMS minimizes household energy consumption and usage costs. The solution optimizes household electricity structures and reduces energy waste, aligning with Tuya's commitment to sustainable and green development.

As of now, Tuya has agreed to cooperate with enterprises such as NIRCEE, Nahui New Energy Technology by Haier Group, and Hexing, enabling customers to expand into international markets such as Europe and North America. It is worth mentioning that, for the Singaporean home market, Tuya has also introduced an energy-saving kit that includes infrared controls, sensors, smart sockets, smart thermostats, smart fans, and other products. Noteworthy is that the energy-saving kit tailored for the Singaporean home market that has been widely used, resulting in an average energy saving of 25% and up to 54% per month in some households, greatly improving energy efficiency and bringing tangible energy-saving benefits to households.

At CES 2024, Tuya is showcasing its Home Energy Management System, offering visitors an immersive experience. The system provides key information such as storage rates, consumption rates, and energy costs, which supports users in making real-life decisions for household energy consumption.

Tuya's Net Zero Solutions Promote New Opportunities for Sustainable Development

Facing the severe challenges of the global climate crisis, major countries and regions around the world have set time frames for achieving carbon peak and carbon neutrality, indicating that the zero-carbon market is gradually becoming a new path to industrial transformation and economic growth. This transformation is not only urgently needed to address global climate change, but also an important opportunity to promote the sustainable development of human society.

Tuya invested significantly in technology to develop cutting-edge Net Zero Solutions, aligning with the global trend toward intelligent and green technology. Tuya strives for the deep integration of technology and sustainable development, leading the future net zero market with global developers.

Tuya's Net Zero Solutions provide comprehensive software and hardware support for developers worldwide. Leveraging Tuya's development kits, developers can rapidly construct personalized Net Zero Solutions suitable for diverse scenarios.

Unlike HEMS, which focuses on residential energy-saving scenarios, Net Zero Solutions target verticals such as office buildings, shopping malls, warehouses, and smart cities, employing AI and IoT to achieve intelligent energy management. It is worth mentioning that the smart products in the Net Zero Solutions can also form a linkage with the rich smart hardware ecosystem of Tuya, accelerate the construction of smart scenarios, and achieve more scientific and efficient energy conservation and emission reduction.

Successfully implemented in construction, warehousing, and smart cities, Tuya's Net Zero Solutions have demonstrated substantial reductions in energy consumption ranging from 15% to 30%. In the operation of warehouse and logistics parks, the combination of distributed energy systems and IoT solutions can reduce energy consumption by 20% to 30%. In addition, in the construction of smart cities, Tuya's Net Zero Solutions help to achieve intelligent management of key resources such as water, electricity, and natural gas, thereby enhancing urban energy operation efficiency and service capabilities, marking a significant stride towards sustainable development.

Over the past three days of the CES exhibition, Tuya's HEMS and Net Zero Solutions have received widespread recognition, showcasing the company's technological prowess in the energy sector. Tuya invites developers worldwide to join hands in building a sustainable, green future.

As conveyed in the theme of "All Together, All On Smart," Tuya encourages developers to leverage innovative technologies in addressing global energy and climate challenges. The company pledges to continue leveraging its expertise in AI and IoT, providing innovative solutions for technological innovation and product upgrading in the energy industry. Tuya remains committed to working collaboratively with global developers to address energy challenges, striving to build a sustainable and beautiful future.

View original content:https://www.prnewswire.com/news-releases/tuya-highlights-home-energy-management-system-and-net-zero-solutions-for-smart-energy-industry-at-ces-2024-302033619.html

SOURCE Tuya Smart

FAQ

What did Tuya Smart unveil at CES 2024?

Tuya Smart unveiled its innovative Home Energy Management System (HEMS) and Net Zero Solutions at CES 2024.

What is the ticker symbol for Tuya Smart?

The ticker symbol for Tuya Smart is TUYA.

What are the key features of Tuya's Home Energy Management System (HEMS)?

Tuya's HEMS establishes a real-time interactive power supply and consumption relationship, actively managing and executing household energy intelligently. It enables visual management of energy data such as electricity chain, storage, charging, and consumption, minimizing household energy consumption and usage costs.

What is the focus of Tuya's Net Zero Solutions?

Tuya's Net Zero Solutions target verticals such as office buildings, shopping malls, warehouses, and smart cities, employing AI and IoT to achieve intelligent energy management.

How has Tuya Smart's Net Zero Solutions performed in reducing energy consumption?

Tuya's Net Zero Solutions have demonstrated substantial reductions in energy consumption ranging from 15% to 30% in construction, warehousing, and smart cities.