The market valuation of residential solar energy storage exceeded USD 38.9 billion in 2022 and is anticipated to surpass USD 205.4 billion by 2032 due to the rising efforts towards energy efficiency and conservation among urban and suburban consumers.
The lithium-ion segment size crossed 35 billion in 2022 owing to the growing shift toward reducing carbon footprint.
3 kW - 6 kW power rating segment held over 50% of the residential solar energy storage market share in 2022 on account of the influx of favorable government norms to adopt solar technologies.
North America is estimated to record 15% CAGR from 2023 to 2032 driven by the presence of severe government regulations for decarbonization.