Residential Solar Energy Storage Market Size – By Power Rating, By Technology, Analysis, Share, Growth Forecast, 2025 – 2034

Residential Solar Energy Storage Market Size

The global residential solar energy storage market was valued at USD 61.5 billion in 2024 and is estimated to grow at a CAGR of 18.3% from 2025 to 2034. The growing emphasis on energy efficiency and conservation among urban and suburban consumers will augment the industry landscape. This momentum is further amplified by rapid urbanization and government-backed renewable energy initiatives and subsidies, which are significantly boosting product demand.
 

A residential solar energy storage involves capturing and reserving power generated by a connected solar system for future use. This stored energy acts as a reliable backup during periods of low sunlight or peak electricity demand. These systems leverage advanced technical solutions to ensure a stable power supply, enhance the resilience of electrical infrastructure, and deliver substantial cost efficiencies to consumers. Additionally, the growing competitiveness of solar energy is driving investors to advocate for a robust and secure regulatory framework. This framework supports the storage, generation, and self-consumption of solar energy, unlocking significant growth opportunities for the industry.
 

Residential Solar Energy Storage Market Trends

Supportive government policies including incentivization, net metering, and feed-in tariffs, are expected to drive momentum in the solar industry. Furthermore, declining technology costs, fueled by economies of scale and intensified global competition, are set to reshape the industry growth trajectory. The integration of green energy initiatives in line with the rapid expansion of renewable energy projects are propelling the industry growth. These innovative systems empower homeowners to achieve greater energy independence while reducing reliance on conventional power grids, further stimulating the business potential.
 

Residential Solar Energy Storage Market Analysis

The > 3 kW - 6 kW residential solar energy storage industry will exceed USD 135 billion by 2034. The declining costs of batteries in recent years have positioned them as a cost-effective solution for homeowners aiming to reduce grid dependency while capitalizing on solar energy's advantages. These batteries deliver critical benefits, including superior energy density, extended lifecycle, improved safety, and seamless compatibility, driving growth opportunities in the market.
 

The lithium-ion residential solar energy storage market size will witness a growth rate of over 18% through 2034. This technology unlocks significant cost-saving potential, driven by advancements in scalable production, innovative materials, efficient supply chains, and enhanced performance capabilities. The growing focus on reducing carbon footprints, combined with the seamless integration of this technology with existing solar panels, is set to reshape the industry scenario.
 

U.S. residential solar energy storage market is set to reach over USD 50 billion by 2034. Stringent government policies targeting decarbonization coupled with the adoption of advanced energy-efficient and clean technologies will escalate the business growth. Declining solar system costs, along with attractive government subsidies, have made these solutions increasingly appealing to homeowners. Moreover, supportive regulatory frameworks promoting viable solar initiatives, combined with strict mandates for energy optimization, are expected to accelerate the demand for these systems.
 

The removal of a punitive tax on households is set to drive significant growth in Europe residential solar energy storage market. Furthermore, initiatives under the European Green Deal, including Next Generation EU and national recovery plans, are anticipated to accelerate the adoption of these energy solutions. Backed by favorable regulatory frameworks and the rising demand for clean, sustainable energy, the market is positioned for robust expansion. Falling manufacturing and installation costs coupled with rising consumer demand for sustainable storage solutions are poised to drive significant advancements.
 

Residential Solar Energy Storage Market Share

The manufacturers in the market are adopting several key strategies to strengthen their market position and address evolving consumer demands. These include significant investments in research and development to enhance the efficiency, durability, and capacity of battery systems. Emphasis is also placed on integrating advanced technologies including artificial intelligence and IoT, for real-time monitoring and energy optimization. Partnerships and collaborations with solar panel providers, utility companies, and installers are becoming increasingly common to create comprehensive energy solutions.
 

Residential Solar Energy Storage Market Companies

Major players operating in the residential solar energy storage industry are:

• ABB
• Eaton
• Enphase Energy
• EnerSys
• Fluence
• Honeywell
• Huawei
• Johnson Controls
• Leclanche
• LG Electronics
• Maxwell Technologies
• Primus Power
• Saft
• SAMSUNG SDI
• Schneider Electric
• Siemens Energy
• SolarEdge Technologies
• Tesla
• Toshiba
• Uniper
   

Residential Solar Energy Storage Industry News

• In September 2024, Eaton has unveiled a planned collaboration with Tesla aimed at enhancing the efficiency and adoption of home energy storage and solar solutions across North America. This partnership will integrate Tesla’s Powerwall with Eaton’s innovative AbleEdge smart breakers, streamlining the process for homeowners and installers to achieve intelligent load management. This advanced functionality is designed to optimize energy consumption while extending backup power duration during grid outages, setting a new benchmark for energy resilience and sustainability.
   
• In June 2024, ABB has introduced the ReliaHome Smart Panel, an advanced home energy management system designed for residential applications in the U.S. and Canada. Developed in collaboration with software partner Lumin, this innovative solution streamlines the coordination of home energy assets, offering enhanced energy optimization, circuit scheduling, and real-time control capabilities. With app-based management, homeowners can leverage data-driven insights to monitor and control their energy usage, achieving significant cost savings and improved efficiency.
   

This residential solar energy storage market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume (MW) & revenue (USD Million) from 2021 to 2034, for the following segments:

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Market, By Power Rating

• ≤ 3 kW
• > 3 kW - 6 kW
• > 6 kW

Market, By Technology

• Lithium Ion
• Lead Acid

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • Italy
  • Spain
  • UK
  • Switzerland
  • Austria
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
• Latin America
  • Brazil
  • Argentina