Residential Solar Generator Market Size - By Capacity (≤ 1,000 W, > 1,000 W - 2,000 W, > 2,000 W - 3,000 W, > 3,000 W), By Phase (Single, Three), By Regional Outlook & Forecast, 2024 – 2032

Residential Solar Generator Market Size

The global residential solar generator market size in 2023 was valued at USD 413.6 million and is estimated to grow at a rate of 11.3% by 2032. The changing consumer behavior with regards to the environmental concerns as well as the increasing preference for renewable sources of energy will be beneficial for the business environment. For instance, IEA states that renewable energy capacity will grow at a fast pace because of solar, wind, and hydropower initiatives.
 

A home solar generator produces electricity since it uses the sun as its primary source of energy, and it is therefore an eco-friendly and renewable energy generator. It consists of photovoltaic cells installed on roofs or in yards, which utilize semiconductor materials to turn light into electricity. The electric energy produced can then be used directly for energizing home equipment or stored in batteries for usage at later times. These systems aid in the reduction of electricity costs in the long run, cut out the use of fossil fuel which in turn reduces carbon emissions, therefore appealing to homeowners who understand the importance of Clean energy and want to transition.

Residential Solar Generator Market Trends

The energy efficiency and conservation practices along with flourishing real estate sector is set to drive the adoption of solar generators. Rising fuel prices and the scarcity of alternative fuels will boost the product penetration. Additionally, the competitiveness of solar energy in household applications will motivate investors to pursue a stable political framework for the storage, generation and self-consumption of solar energy, thereby accelerating the industry potential globally.
 

Residential Solar Generator Market Analysis

The ≤ 1,000 W residential solar generator industry will exceed over USD 200 million by 2032. The increasing prices for traditional fuel sources alongside the increasing concern for environmental matters are swaying users towards the use of renewable energy sources. One of the most important aspects of these systems has to do with their high efficiency, standby free operation and cost effectiveness. Technological improvement has for some time now expanded the efficacy and cost efficiency of these systems to a wider base of consumers.
 

The single phase residential solar generator market size will witness growth rate of over 11% by 2032. The industry growth looks promising owing to the concerns related to renewable energy sources, Climatic Changes and the changes in policies of various governments that are leaning more towards the adoption of clean energy. Furthermore, the enhancing market composition following the reduced charges for solar panels coincides with the increased consumer determination to cut down the electricity bills and will greatly benefit the market.
 

The Asia Pacific residential solar generator market is set to surpass USD 300 million by 2032. The encouragement to switch to renewable energy technologies through government programs, tax credits, and rebates will expand the market landscape. In addition, the increasing willingness of customers to reduce the grid connection together with the changing concentration of consumers to solar energy usage will also provide an additional boost to industry development. The increase in remote jobs titled boosted off grid market expansion will support the consumption of the product.
 

The U.S. market of solar generators for homes has benefited from the booming consumer cognizance on renewable energy usage, enhancement made in technology of solar management and policies of the government coupled with incentives. In addition, the deployment of smart technologies alongside battery storage solutions will improve the functionality and attractiveness of residential solar generators which are part of the transformation of energy systems.
 

Residential Solar Generator Market Share

GROWATT solar power solutions have reached a reputable position assuring innovation in solar generator development and building efficient solar inverters. The firm has quickly started to establish itself within the renewable power market with all kinds of products including high quality solar power systems for home, business and even industrial use. The company builds its solar generators to maximize energy generation which include features like maximum power point tracking, high conversion efficiency and rugged construction that can be withstand several environmental features.
 

Residential Solar Generator Market Companies

The key industry players include:

• ACOPOWER
• Anern
• Anker
• Aton Solar
• Bluetti
• EcoFlow
• Generac
• Goal Zero
• GROWATT
• HomeGrid
• Humless
• Inergy
• Jackery Inc.
• Lion Energy
• Milesolar
• Nature's Generator
• OUPES
• Powerenz
• PowerOak
• Renogy
   

Residential Solar Generator Industry News

• In January 2024, Jackery’s Solar Generator Mars Bot won the TIME’s Best Inventions. First of its kind, the generator is capable of linking with solar panels, Sunflower Solar Tracker and a battery storage system. Its importance in clean energy technology is also underline by its robust build and a well-designed foldable form. Further, its range also includes a rooftop camp solar generator and portable solar generator 1,000 with multiple panels which both are convenient and eco-friendly.
   
• In April 2023, GROWATT has announced the launch of their new solar generator called the Infinity 1300 which, according to them, utilizes LFP batteries with a 3,000 cycle life. This generator has a storage capacity of 1382Wh and a powering capacity of 1800W which can be supported through solar panels. The Infinity 1300 allows for fast charging, and it can be charged up fully using only AC input in a time period of 1.8 hours. The Infinity 1300 series incorporates cutting-edge bi-directional inverter technology, featuring 14 DC and 14 AC ports. The infinity 1300 will work with the SmartGro application allowing the user to operate the generator with convenience and ease considering how advanced the specifications are.
   

The residential solar generator market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD Million” from 2021 to 2032, for the following segments:

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Market, By Phase

• Single phase
• Three phase

Market, By Capacity

• ≤ 1,000 W
• > 1,000 W - 2,000 W
• > 2,000 W - 3,000 W
• > 3,000 W

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

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • Italy
  • Poland
  • Netherlands
  • Austria
  • France
  • Spain
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
  • Philippines
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Egypt
  • Nigeria
  • Israel
• Latin America
  • Brazil
  • Chile
  • Mexico