Residential Solar Energy Storage Market to Reach $20.85 Billion by 2029, Growing at a CAGR of 18.4%

November 14, 2025 by The Business Research Company

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What Is The Expected Total Market Size Of The Residential Solar Energy Storage Industry By The Forecast Year 2029?

The market for residential solar energy storage has experienced swift expansion lately, projected to escalate from a value of $8.98 billion in 2024 to $10.62 billion by 2025, reflecting a compound annual growth rate of 18.2%; this historical upswing stems from increased residential solar installations, falling prices for solar panels, various governmental motivations and tax breaks, the pursuit of energy self-sufficiency coupled with financial benefits, and heightened ecological consciousness.

Anticipation is high for substantial expansion within the residential solar energy storage sector over the coming years, projecting a market valuation of $20.85 billion by 2029, achieving a compound annual growth rate of 18.4 percent; this projected upswing is powered by several key factors such as enhanced energy management capabilities and efficiency improvements, the proliferation of both rooftop and communal solar installations, the merging of storage with electric vehicle charging infrastructure, advancements in smart grid connectivity and the implementation of demand response programs, alongside the crucial need for resilient energy backup at essential facilities. Significant shifts observable during this projection span feature the rise of combined solar and storage configurations, the convenience of ready-to-use storage units, the adoption of service-based energy provision, the facilitation of direct energy exchange among consumers, and a growing preference for solid-state battery technology.

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Which Major Market Drivers Are Shaping The Future Of The Residential Solar Energy Storage Market?

The forward trajectory of the domestic solar energy storage market is anticipated to be boosted by the escalating need for environmentally sound power production methods. Clean and endlessly replenishable energy sources characterize what is meant by sustainable electricity. This rising necessity for greener electricity generation will pressure the residential solar power storage sector to innovate offerings that better satisfy consumer requirements. As an illustration, projections from the IEA main case for 2022 indicated that worldwide renewable generating capacity is set to climb by approximately 2,400 GW over the 2022 to 2027 period, marking nearly a 75 percent expansion, which is equivalent to China’s total existing power installation base. Consequently, this mounting call for sustainable electricity creation serves as a primary impetus for the expansion of the residential solar energy storage market.

What Are The Segment Types Shaping The Residential Solar Energy Storage Market?

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

Which Ongoing Trends Are Expected To Shape The Residential Solar Energy Storage Market Outlook?

The residential solar energy storage sector is currently being significantly influenced by the rising prominence of sophisticated technological advancements. Leading enterprises within this specific residential energy storage market are concentrating their efforts on engineering novel technical approaches to solidify their competitive standing. As an illustration, Sungrow, a prominent Chinese firm specializing in inverters and energy storage for commercial, home, and utility-scale operations, introduced its novel 1+X modular inverter in January 2022. This recently released inverter represents a highly advanced central inverter concept, employing state-of-the-art engineering centered around a tripartite modular architecture, which inherently boosts operational adaptability and ease of implementation for the device; Sungrow has since demonstrated this innovative technology across the residential, commercial, industrial, and utility segments of solar energy utilization.

Who Are The Top Performing Companies In The Residential Solar Energy Storage Market In Recent Years?

Major companies operating in the residential solar energy storage market include Samsung SDI Co. Ltd., Tesla Inc., LG Chem Ltd., ABB Ltd., General Electric Company, Panasonic Holdings Corporation, AEG Power Solutions, eSolar Inc., Alpha Technologies, SunPower Corporation, NRG Energy Inc., 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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What Are The Key Regional Factors Influencing The Residential Solar Energy Storage Market Growth?

Asia-Pacific was the largest region in the residential solar energy storage market in 2024. The regions covered in the residential solar energy storage market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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