Enjoy complimentary customisation on priority with our Enterprise License!
The residential solar energy storage market size is forecast to increase by USD 113.55 billion at a CAGR of 52.6% between 2023 and 2028. The market is experiencing significant growth due to several key drivers. One major factor is the decreasing costs of solar panel systems and inverters, making renewable energy more accessible and affordable for homeowners. Another trend is the utilization of residential energy storage systems as virtual power plants, feeding excess energy back into the grid and contributing to the shift toward renewable power sources. Primarily, the market's progression is driven by the decline in photovoltaic (PV) system and energy storage costs. Additionally, the emergence of alternative energy storage technologies is expanding market options. Furthermore, the potential for energy trading and the implementation of blockchain technology offers opportunities for homeowners to monetize their stored energy and reduce their carbon footprints. Overall, these factors are fueling the growth of the market.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.