U.S. Residential Lithium-ion Battery Energy Storage Systems Market Size & Outlook
U.S. residential lithium-ion battery energy storage systems market, 2018-2030 (US$M)
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U.S. residential lithium-ion battery energy storage systems market highlights
- The U.S. residential lithium-ion battery energy storage systems market generated a revenue of USD 943.4 million in 2023 and is expected to reach USD 6,864.3 million by 2030.
- The U.S. market is expected to grow at a CAGR of 32.8% from 2024 to 2030.
- In terms of segment, 3 kw to 5 kw was the largest revenue generating power rating in 2023.
- Less than 3kW is the most lucrative power rating segment registering the fastest growth during the forecast period.
Residential lithium-ion battery energy storage systems market data book summary
| Market revenue in 2023 | USD 943.4 million |
| Market revenue in 2030 | USD 6,864.3 million |
| Growth rate | 32.8% (CAGR from 2023 to 2030) |
| Largest segment | 3 kw to 5 kw |
| Fastest growing segment | Less than 3kW |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Less than 3kW, 3 kW to 5 kW |
| Key market players worldwide | Enphase Energy Inc, Panasonic Holdings Corp, Tesla Inc, Hitachi Ltd, Pylon Technologies, LG Chem, Haikai, E3/DC, Sonnen, GoodWe |
Other key industry trends
- In terms of revenue, U.S. accounted for 13.5% of the global residential lithium-ion battery energy storage systems market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. residential lithium-ion battery energy storage systems market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 780.5 million by 2030.
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Residential Lithium-ion Battery Energy Storage Systems Market Scope
Residential Lithium-ion Battery Energy Storage Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. residential lithium-ion battery energy storage systems market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to residential lithium-ion battery energy storage systems market will help companies and investors design strategic landscapes.
3 kw to 5 kw was the largest segment with a revenue share of 63.93% in 2023. Horizon Databook has segmented the U.S. residential lithium-ion battery energy storage systems market based on less than 3kw, 3 kw to 5 kw covering the revenue growth of each sub-segment from 2018 to 2030.
The U.S. is one of the largest in terms of adoption of battery energy storage in the global owing to the rising demand for renewable energy in the country. The market in the country is projected to grow at a significant CAGR over the forecast period.
Factors such positive government initiatives and increasing efficiency of residential battery energy storage analysis is expected increase the market for residential lithium ion battery storage systems market over the forecast period.
For instance, Inflation Reduction Act of 2022 introduced tax credit for the installation of solar PV panels as well as Battery energy storage systems for residential and commercial industries.
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Target buyers of U.S. residential lithium-ion battery energy storage systems market databook
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Our clientele includes a mix of residential lithium-ion battery energy storage systems market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. residential lithium-ion battery energy storage systems market , including forecasts for subscribers. This country databook contains high-level insights into U.S. residential lithium-ion battery energy storage systems market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. residential lithium-ion battery energy storage systems market size, by power rating, 2018-2030 (US$M)
U.S. Residential Lithium-ion Battery Energy Storage Systems Market Outlook Share, 2023 & 2030 (US$M)
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