Residential Solar Energy Storage Market Size, Share, and Growth Analysis 2034
Global Residential Solar Energy Storage Market Growth, Size, Trends Analysis- By Power Rating, By Technology - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: Jul-2025 | Report ID: POAE25116 | Pages: 1 - 273 | Formats*: |
| Category : Power & Energy | |||
Global Residential Solar Energy Storage Market Introduction and Overview
According to SPER Market Research, the Global Residential Solar Energy Storage Market is estimated to reach USD 337.49 billion by 2034 with a CAGR 18.56%.
The report includes an in-depth analysis of the Global Residential Solar Energy Storage Market, including market size and trends, product mix, Applications, and supplier analysis. The global residential solar energy storage market, valued at USD 61.5 billion in 2024, is projected to grow at a CAGR of 18.56% from 2025 to 2034. Rising energy efficiency awareness, rapid urbanization, and supportive government policies are driving demand. These systems store excess solar power for later use, ensuring backup during low sunlight or peak demand. By enhancing grid resilience and offering cost savings, they appeal to both consumers and investors. As solar energy becomes more competitive, the push for a strong regulatory framework supporting storage, generation, and self-consumption is unlocking new growth opportunities across the industry.
By Power Rating:
The residential solar energy storage segment in the >3 kW to 6 kW range is poised for substantial growth in the coming years. Falling battery costs have made these systems an increasingly attractive option for homeowners looking to minimize reliance on the grid and maximize the benefits of solar power. These batteries offer key advantages such as higher energy density, longer lifespan, enhanced safety, and easy system integration, all of which are fueling increased adoption and expanding market potential.
By Technology:
The lithium-ion residential solar energy storage market is expected to experience strong growth through 2034, fueled by its cost-saving potential. This is largely due to advancements in scalable manufacturing, innovative materials, efficient supply chains, and improved performance. As the demand for low-carbon solutions rises, lithium-ion technology stands out for its ability to integrate seamlessly with existing solar systems, positioning it as a key driver in the evolving energy landscape.
Regional Insights:
The U.S. residential solar energy storage market is projected for strong growth, driven by strict decarbonization policies, falling solar costs, and generous subsidies that make adoption more attractive. Supportive regulations and energy efficiency mandates further boost demand. In Europe, the removal of punitive household taxes, alongside initiatives like the European Green Deal and national recovery plans, are accelerating market expansion. Favorable policies, rising demand for clean energy, and decreasing manufacturing and installation costs are driving widespread adoption, positioning both regions for substantial advancements in residential solar energy storage solutions.
Market Competitive Landscape:
The global Residential Solar Energy Storage Market is moderately consolidated, with several prominent players shaping the industry. Key companies include: ABB, Eaton, Enphase Energy, EnerSys, Fluence, Honeywell, Huawei, Johnson Controls, Leclanche, LG Electronics, Maxwell Technologies.
Recent Developments:
In September 2024, Eaton announced a planned collaboration with Tesla to boost the efficiency and adoption of residential energy storage and solar solutions throughout North America. The partnership will combine Tesla’s Powerwall with Eaton’s advanced AbleEdge smart breakers, simplifying intelligent load management for both homeowners and installers.
In June 2024, ABB launched the ReliaHome Smart Panel, a cutting-edge home energy management system tailored for residential use in the U.S. and Canada. Created in partnership with software developer Lumin, this innovative solution simplifies the coordination of home energy resources, providing improved energy optimization, circuit scheduling, and real-time control features.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Power Rating, By Technology |
| Regions covered | North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa |
| Companies Covered | ABB, Eaton, Enphase Energy, EnerSys, Fluence, Honeywell, Huawei, Johnson Controls, Leclanche, LG Electronics, Maxwell Technologies. |
Key Topics Covered in the Report
- Global Residential Solar Energy Storage Market Size (FY’2021-FY’2034)
- Overview of Global Residential Solar Energy Storage Market
- Segmentation of Global Residential Solar Energy Storage Market By Power Rating (≤ 3 kW, > 3 kW - 6 kW, > 6 kW)
- Segmentation of Global Residential Solar Energy Storage Market By Technology (Lithium Ion, Lead Acid)
- Statistical Snap of Global Residential Solar Energy Storage Market
- Expansion Analysis of Global Residential Solar Energy Storage Market
- Problems and Obstacles in Global Residential Solar Energy Storage Market
- Competitive Landscape in the Global Residential Solar Energy Storage Market
- Details on Current Investment in Global Residential Solar Energy Storage Market
- Competitive Analysis of Global Residential Solar Energy Storage Market
- Prominent Players in the Global Residential Solar Energy Storage Market
- SWOT Analysis of Global Residential Solar Energy Storage Market
- Global Residential Solar Energy Storage Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1.Introduction
1.1.Scope of the report1.2.Market segment analysis
2.Research Methodology
2.1.Research data source
2.1.1.Secondary Data2.1.2.Primary Data2.1.3.SPERs internal database2.1.4.Premium insight from KOLs
2.2.Market size estimation
2.2.1.Top-down and Bottom-up approach
2.3.Data triangulation
3.Executive Summary
4.Market Dynamics
4.1.Driver, Restraint, Opportunity and Challenges analysis
4.1.1.Drivers4.1.2.Restraints4.1.3.Opportunities4.1.4.Challenges
5.Market variable and outlook
5.1.SWOT Analysis
5.1.1.Strengths5.1.2.Weaknesses5.1.3.Opportunities5.1.4.Threats
5.2.PESTEL Analysis
5.2.1.Political Landscape5.2.2.Economic Landscape5.2.3.Social Landscape5.2.4.Technological Landscape5.2.5.Environmental Landscape5.2.6.Legal Landscape
5.3.PORTERs Five Forces
5.3.1.Bargaining power of suppliers5.3.2.Bargaining power of buyers5.3.3.Threat of Substitute5.3.4.Threat of new entrant5.3.5.Competitive rivalry
5.4.Heat Map Analysis
6.Competitive Landscape
6.1.Global Residential Solar Energy Storage Market Manufacturing Base Distribution, Sales Area, Product Type6.2.Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Residential Solar Energy Storage Market
7.Global Residential Solar Energy Storage Market, By Power Rating, (USD Million) 2021-2034
7.1.≤ 3 kW7.2.> 3 kW - 6 kW7.3.> 6 kW
8.Global Residential Solar Energy Storage Market, By Technology, (USD Million) 2021-2034
8.1.Lithium Ion8.2.Lead Acid
9.Global Residential Solar Energy Storage Market, (USD Million) 2021-2034
9.1.Global Residential Solar Energy Storage Market Size and Market Share
10.Global Residential Solar Energy Storage Market, By Region, 2021-2034 (USD Million)
10.1.Asia-Pacific
10.1.1.Australia10.1.2.China10.1.3.India10.1.4.Japan10.1.5.South Korea10.1.6.Rest of Asia-Pacific
10.2.Europe
10.2.1.France10.2.2.Germany10.2.3.Italy10.2.4.Spain10.2.5.United Kingdom10.2.6.Rest of Europe
10.3.Middle East and Africa
10.3.1.Kingdom of Saudi Arabia10.3.2.United Arab Emirates10.3.3.Qatar10.3.4.South Africa10.3.5.Egypt10.3.6.Morocco10.3.7.Nigeria10.3.8.Rest of Middle-East and Africa
10.4.North America
10.4.1.Canada10.4.2.Mexico10.4.3.United States
10.5.Latin America
10.5.1.Argentina10.5.2.Brazil10.5.3.Rest of Latin America
11.Company Profile
11.1.ABB
11.1.1.Company details11.1.2.Financial outlook11.1.3.Product summary11.1.4.Recent developments
11.2.Eaton
11.2.1.Company details11.2.2.Financial outlook11.2.3.Product summary11.2.4.Recent developments
11.3.Enphase Energy
11.3.1.Company details11.3.2.Financial outlook11.3.3.Product summary11.3.4.Recent developments
11.4.EnerSys
11.4.1.Company details11.4.2.Financial outlook11.4.3.Product summary11.4.4.Recent developments
11.5.Fluence
11.5.1.Company details11.5.2.Financial outlook11.5.3.Product summary11.5.4.Recent developments
11.6.Honeywell
11.6.1.Company details11.6.2.Financial outlook11.6.3.Product summary11.6.4.Recent developments
11.7.Huawei
11.7.1.Company details11.7.2.Financial outlook11.7.3.Product summary11.7.4.Recent developments
11.8.Johnson Controls
11.8.1.Company details11.8.2.Financial outlook11.8.3.Product summary11.8.4.Recent developments
11.9.Leclanche
11.9.1.Company details11.9.2.Financial outlook11.9.3.Product summary11.9.4.Recent developments
11.10.LG Electronics
11.10.1.Company details11.10.2.Financial outlook11.10.3.Product summary11.10.4.Recent developments
11.11.Maxwell Technologies
11.11.1.Company details11.11.2.Financial outlook11.11.3.Product summary11.11.4.Recent developments
11.12.Others
12.Conclusion
13.List of Abbreviations
14.Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Residential Solar Energy Storage Market size is USD 337.49 billion from 2025 to 2034.
Residential Solar Energy Storage Market covered By Power Rating, By Technology
The North America is anticipated to have the highest Market share in the Residential Solar Energy Storage Market.
ABB, Eaton, Enphase Energy, EnerSys, Fluence, Honeywell, Huawei, Johnson Controls, Leclanche, LG Electronics, Maxwell Technologies.
The report includes an in-depth analysis of the Global Residential Solar Energy Storage Market, including market size and trends, product mix, Applications, and supplier analysis.
Residential Solar Energy Storage Market is projected to reach USD 337.49 billion by 2034, growing at a CAGR of 18.56% during the forecast period.
Residential Solar Energy Storage Market size from 2025. The Market is expected to reach USD 337.49 billion by 2034, at a CAGR of 18.56% during the forecast period.
Residential Solar Energy Storage Market CAGR of 18.56% during the forecast period.
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