Solar-Plus-Storage Market (2026 - 2033)

Solar-Plus-Storage Market Summary

The global solar-plus-storage market size was valued at USD 10.3 billion in 2025 and is projected to grow from USD 13.6 billion in 2026 to USD 57.9 billion by 2033, growing at a CAGR of 23.0% from 2026 to 2033. Asia Pacific dominated the market, accounting for the largest revenue share of 64.5% in 2025. The market is experiencing strong growth driven by increasing renewable energy deployment, declining battery costs, and rising demand for reliable, resilient power systems.

Source: Grand View Research, IR Documents, Primary Interviews, Paid Databases

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Market Dynamics

Solar-plus-storage is an integrated energy system that combines solar PV panels with battery energy storage systems (BESS) to generate and store electricity. It enables a reliable power supply, enhances renewable energy utilization, and provides electricity during periods of low solar generation or grid outages. Governments worldwide are supporting market expansion through clean energy targets, investment incentives, and policies promoting energy storage integration. Growing electricity demand, grid modernization efforts, and the need to manage intermittent solar generation are further accelerating adoption across residential, commercial, industrial, and utility-scale applications. Advancements in battery technologies and energy management systems are improving system efficiency and expanding the commercial viability of solar-plus-storage solutions.

Analyst Perspective

The solar-plus-storage market is expected to grow strongly as declining battery costs, increasing renewable energy adoption, and rising demand for reliable power solutions drive expansion. An emerging trend is the increasing integration of VPPs, in which multiple distributed solar-plus-storage systems are connected to support grid operations and improve energy flexibility. Additionally, advancements in battery technology, supportive government policies, and increasing investments in large-scale renewable energy projects are expected to create new growth opportunities for market participants. The market is gradually shifting from standalone solar installations toward integrated systems that provide a continuous and flexible clean energy supply.

Installation Type Insights

The utility-scale segment held the largest revenue share of 77.0% in 2025. This dominance is attributed to the increasing deployment of large-scale solar photovoltaic projects integrated with energy storage systems to enhance grid flexibility and the integration of renewable energy. Utilities are increasingly adopting solar-plus-storage solutions to manage peak electricity demand, improve grid reliability, and reduce dependence on conventional power generation. Declining battery costs and growing investments in large-scale renewable energy projects are supporting growth in the segment.

The commercial & industrial (C&I) segment is expected to register the fastest CAGR of 29.4% during the forecast period. This growth is primarily driven by increasing adoption of solar-plus-storage systems across commercial and industrial facilities to reduce electricity costs, improve energy resilience, manage peak demand, and support decarbonization targets. In addition, declining battery storage costs and the growing availability of incentives for distributed energy systems are encouraging businesses to deploy integrated solar-and-storage solutions.

System Type Insights

The on-grid segment held the largest revenue share of 98.1% in 2025. The growth of this segment is supported by the increasing deployment of grid-connected solar-plus-storage systems to improve grid stability, manage peak electricity demand, and enhance the utilization of renewable power. Rising investments in renewable energy infrastructure and the integration of battery storage with existing power grids are further driving adoption. Favorable policies promoting distributed energy resources and grid modernization are supporting the continued expansion of on-grid solar-plus-storage systems.

The off-grid segment is anticipated to register the fastest CAGR of 32.1% during the forecast period. This growth is driven by increasing demand for reliable electricity in remote and underserved areas where grid connectivity is limited or unavailable. The integration of solar generation with battery storage provides a dependable and decentralized power source while reducing reliance on diesel generators. Declining solar and battery costs and growing investments in rural electrification are expected to support the adoption of off-grid solar-plus-storage systems.

Storage Technology Insights

The lithium-ion batteries segment accounted for the largest revenue share, at 96.4%, in 2025. This dominance is attributed to the high energy density, established manufacturing infrastructure, and declining costs of lithium-ion battery systems. Their proven performance, scalability, and relatively high efficiency have supported widespread adoption across residential, commercial & industrial, and utility-scale solar-plus-storage applications. Ongoing advancements in battery technology and manufacturing capacity are further strengthening the position of lithium-ion batteries in the market.

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The flow batteries segment is expected to register the fastest CAGR of 45.8% for the forecast period. The growth is supported by the increasing demand for long-duration energy storage solutions that can complement intermittent solar power generation. Flow batteries offer high cycle life, flexible scalability, and the ability to provide extended-duration storage with relatively low degradation. These characteristics are driving their adoption in large-scale renewable energy projects and applications requiring frequent charging and discharging.

Regional Insights

Asia Pacific held the largest revenue share of 64.5% in the global solar-plus-storage market in 2025. Increasing investments in renewable energy infrastructure, rapid urbanization, and the growing need for reliable electricity are driving the Asia-Pacific solar-plus-storage market. Countries in this region are expanding solar projects integrated with battery storage to improve grid stability and maximize renewable energy utilization. For instance, China added a record 315 GW of new solar PV capacity in 2025, highlighting the growing need for battery storage to support renewable energy integration and grid flexibility. Falling battery costs and supportive government policies are further accelerating the deployment of utility-scale solar-plus-storage projects.

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North America Solar-Plus-Storage Market Trends

The North America solar-plus-storage market is growing rapidly due to increasing solar installations, rising electricity demand, and the need for a more reliable power grid. Utility-scale solar projects are increasingly being paired with battery storage to improve renewable energy utilization and grid stability. According to the U.S. Energy Information Administration (EIA), developers planned to add a record 18.2 GW of utility-scale battery storage capacity in the United States in 2025, supporting the expansion of solar-plus-storage projects across the region. Supportive government incentives and declining battery costs are expected to further drive market growth.

Rising investments in renewable energy, supportive federal incentives, and increasing demand for grid reliability are driving the growth of the U.S. solar-plus-storage market. Utilities and developers are increasingly pairing solar power plants with battery storage to improve renewable energy utilization and provide electricity during peak demand. Declining battery costs and the expansion of utility-scale hybrid projects are further supporting market growth. The continued focus on clean energy and grid modernization is expected to accelerate the adoption of solar-plus-storage systems across the U.S.

Europe Solar-Plus-Storage Market Trends

The Europe region’s solar plus storage market is expanding rapidly, driven by rising solar PV installations, increasing grid flexibility needs, and supportive clean energy policies. The growing deployment of utility-scale battery storage is accelerating the adoption of hybrid solar-plus-storage projects, with large-scale systems accounting for more than half of new battery installations in 2025. Countries such as Germany, the UK, and Italy continue to lead the market, while emerging markets are strengthening demand for integrated solar and storage solutions. The increasing focus on renewable integration and energy security is expected to further boost solar-plus-storage deployments across the region.

The UK solar-plus-storage market is growing as the country increases the use of renewable energy and improves grid reliability. More utility-scale solar projects are being built with battery storage to store excess electricity and supply power when needed. Rising investments in battery storage and supportive government policies are encouraging the adoption of integrated solar-plus-storage systems. This trend is expected to continue as the UK works toward a cleaner and more flexible energy system.

Latin America Solar-Plus-Storage Market Trends

The Latin America solar-plus-storage market is anticipated to register the fastest CAGR of 39.9% from 2026 to 2033. This is due to the increasing deployment of renewable energy and the growing need for a more reliable and flexible power system. The integration of battery storage with solar projects is helping improve grid stability, reduce renewable energy curtailment, and ensure a steady power supply during peak demand. Declining battery costs and rising investments in utility-scale energy projects are supporting market expansion. The region's continued focus on clean energy and energy security is expected to drive the adoption of solar-plus-storage systems.

Middle East & Africa Solar-Plus-Storage Market Trends

The Middle East & Africa solar-plus-storage market is expanding as countries diversify their energy mix and invest in reliable renewable power systems. Large-scale solar projects are increasingly being integrated with battery storage to improve grid stability and support clean energy adoption. For instance, in January 2026, Dii Desert Energy reported that the MENA region installed 12.2 GW of new solar capacity in 2025, while operational energy storage capacity reached around 25 GWh, reflecting the growing deployment of solar-plus-storage projects. Continued investments in utility-scale renewable energy and falling battery costs are expected to support further market growth.

Key Solar-Plus-Storage Company Insights

Some of the key players operating in the global solar plus storage market include Tesla and SUNGROW, among others.

• Tesla is a leading manufacturer in the solar-plus-storage market, offering integrated energy solutions that combine solar generation with battery storage for residential, commercial, and utility-scale applications. The company manufactures Powerwall for residential energy storage, Megapack for utility-scale storage, and solar panels and Solar Roof systems, enabling efficient energy generation, storage, and management. Tesla focuses on advanced battery technology, intelligent energy management software, and scalable manufacturing to improve system performance and grid reliability. Its strong global presence, vertically integrated energy portfolio, and continuous product innovation position the company as a key participant in the global solar-plus-storage market.

• SUNGROW is a major manufacturer in the solar-plus-storage market, specializing in integrated photovoltaic and battery energy storage solutions for residential, commercial, industrial, and utility-scale applications. The company manufactures solar inverters, battery energy storage systems, and energy management solutions that enable reliable and efficient solar-plus-storage deployments. Sungrow focuses on expanding its manufacturing capabilities, enhancing system efficiency, and developing intelligent energy management technologies to support renewable energy integration and grid stability. Its broad product portfolio, extensive global project experience, and strong presence in the renewable energy sector position the company as a key participant in the global solar-plus-storage market.

Key Solar-Plus-Storage Companies

The following key companies have been profiled for this study on the solar-plus-storage market.

• BYD Company Ltd.

• Canadian Solar

• Enphase Energy

• GOODWE

• Huawei Technologies Co., Ltd.

• Schneider Electric

• Sigenergy Technology Co., Ltd.

• SMA Solar Technology AG

• SolarEdge

• SUNGROW

• Tesla

Recent Developments

• In May 2025, Canadian Solar, through its subsidiary e-STORAGE, officially launched the SolBank 3.0 Plus battery energy storage system at Intersolar Europe 2025. The new product is designed for utility-scale solar-plus-storage projects and features a 25-year design life, up to 12,000 charge-discharge cycles, 95% round-trip efficiency, and over 13% higher lifetime energy throughput compared to its predecessor. It also incorporates enhanced safety features, including aerospace-grade heat-resistant separators, upgraded electrical protection systems, active cell balancing technology, and an optimized cooling system that reduces auxiliary power consumption by up to 30%. The launch strengthens Canadian Solar's integrated solar and battery storage portfolio, supporting the increasing deployment of utility-scale renewable energy projects.

Global Solar-Plus-Storage Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For the purpose of this study, Grand View Research has segmented the global solar-plus-storage market report on the basis of installation type, system type, storage technology, and region:

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• Installation Type Outlook (Revenue, USD Million, 2021 - 2033)

  • Residential

  • Commercial & Industrial (C&I)

  • Utility-scale

• System Type Outlook (Revenue, USD Million, 2021 - 2033)

  • On-grid

  • Off-grid

• Storage Technology Outlook (Revenue, USD Million, 2021 - 2033)

  • Lithium-ion Batteries

  • Flow Batteries

  • Others

• Regional Outlook (Revenue, USD Million, 2021 - 2033)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

  • Latin America

    • Brazil

    • Argentina

  • Middle East & Africa

    • Saudi Arabia

    • UAE

Research Methodology

The solar-plus-storage market figures in this report are based on a proven research process that combines executive interviews with secondary research from proprietary databases, company filings, and recognized regulatory and institutional sources. Market size is built through value-chain sizing - reconciling supply-side and demand-side estimates - and triangulated with bottom-up and top-down approaches. Every estimate passes multiple levels of expert validation before publication, with each solar-plus-storage segment quantified using the revenue-capture definitions in the table below.

Delivered Customizations

This report has been delivered with the following In-depth customizations