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Residential Solar Energy Storage Market Forecast: What Value Will The Market Reach By 2030?
The residential solar energy storage market has experienced substantial expansion recently. This market is projected to expand from $10.62 billion in 2025 to $12.58 billion in 2026, demonstrating a compound annual growth rate (CAGR) of 18.5%. Historically, this growth can be ascribed to factors such as the initial widespread acceptance of rooftop solar systems, an increase in residential energy self-consumption, the reliance on conventional grid-tied solar configurations, a heightened understanding of the necessity for backup energy, and the growing deployment of fundamental home storage solutions.
The residential solar energy storage market size is anticipated to experience substantial growth in the upcoming years. It is projected to expand to $24.49 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 18.1%. This expansion during the forecast period can be linked to the increasing demand for combined solar-and-storage packages, the broader participation in virtual power plants, the evolution of next-generation lithium-based storage, the growth of smart home energy ecosystems, and the rising adoption of off-grid and hybrid residential systems. Significant trends for the forecast period include the uptake of sustainable solar-plus-storage models, the advancement of electrification-driven home storage systems, the deployment of IoT-enabled solar monitoring platforms, the expansion of cloud-based energy optimization, and the integration of AI-assisted residential energy management.
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Residential Solar Energy Storage Market Expansion Drivers: What’s Shaping Future Growth?
The growing need for sustainable electricity generation is projected to boost the residential solar energy storage market moving forward. Sustainable electricity refers to power that comes from clean, renewable sources capable of self-renewal and are inherently inexhaustible. This escalating demand for sustainable electricity generation will encourage the residential solar energy storage market to develop products that better serve their customers. Residential solar energy storage is advantageous for sustainable electricity generation because it allows for the efficient use of renewable energy, reduces dependence on the grid, and minimizes carbon emissions. For instance, in 2022, the International Renewable Energy Agency (IRENA), a UAE –based intergovernmental organisation (IGO), reported that renewable energy sources comprised 29.9% of global electricity generation in 2023, totaling 8 928 terawatt hours (TWh). Therefore, the increasing demand for sustainable electricity generation is propelling the expansion of the residential solar energy storage market.
Residential Solar Energy Storage Market Segmentation: How Does The Market Break Down By Category?
The residential solar energy storage market covered in this report is segmented –
1) By Operation: Standalone Systems, Solar and Storage
2) By Power Rating: 3–6 kW, 6–10 kW
3) By Technology: Lead Acid, Lithium-Ion
4) By Connectivity: On-Grid, Off-Grid
5) By Ownership: Customer, Utility, Third-Party
Subsegments:
1) By Standalone Systems: Battery Storage Systems, Off-Grid Solar Systems, Hybrid Systems
2) By Solar and Storage: Grid-Tied Solar with Storage, Net Metering Systems, Smart Energy Management Systems
Residential Solar Energy Storage Market Growth Trends Reshaping The Competitive Landscape
Leading firms within the residential solar energy storage sector are introducing novel residential solar energy storage solutions to secure a competitive edge and enrich their product portfolios. For example, in June 2024, SolarEdge Technologies Inc., an Israel-based provider, unveiled a three-phase solar inverter alongside a dedicated home battery. This next-generation inverter from SolarEdge is designed to provide a power capacity of up to 20 kW, serving comprehensive home backup requirements. By incorporating advanced Silicon Carbide (SiC) switches, this inverter seeks to decrease its size and weight per kilowatt, simultaneously boosting efficiency and power density to attain the highest efficiency within its market segment.
Residential Solar Energy Storage Market Competitive Overview And Top Companies
Major companies operating in the residential solar energy storage market are Samsung SDI Co. Ltd., Tesla Inc., LG Chem Ltd., ABB Ltd., General Electric Company, Panasonic Holdings Corporation, AEG Power Solutions, Alpha Technologies, SunPower Corporation, Boston Power Inc., EnerSys, Enphase Energy Inc., Sonnen GmbH, Generac Holdings Inc., Blue Planet Energy, Pika Energy Inc., Lilypad Energy LLC, Sunverge Energy Inc., Eguana Technologies Inc., OutBack Power, KACO new energy GmbH, SMA Solar Technology AG, SolarEdge Technologies Pvt. Ltd., Fronius International GmbH, Delta Electronics Inc., Sungrow Power Supply Co. Ltd., Sharp Corporation, Canadian Solar Inc., JinkoSolar Holdings Co. Ltd., Trina Solar Co. Ltd., Hanwha Q Cells Co. Ltd., LONGi Green Energy Technology Co. Ltd.
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Residential Solar Energy Storage Market Geographic Landscape: Which Region Leads Industry Growth?
Asia-Pacific was the largest region in the residential solar energy storage market in 2025. The regions covered in the residential solar energy storage market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.
