North America Batteries for Solar Energy Storage Market

Historic Data: 2020-2021   |   Base Year: 2022   |   Forecast Period: 2023-2028

Analysis – by Battery Type (Lead acid, Lithium-Ion, Nickel Cadmium, and Others), Application (Residential, Commercial, and Industrial), and Connectivity (Off-Grid and On-Grid)


No. of Pages: 118    |    Report Code: BMIRE00027114    |    Category: Energy and Power

North America Batteries for Solar Energy Storage Market
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The batteries for solar energy storage market in North America is expected to grow from US$ 665.88 million in 2022 to US$ 1,876.17 million by 2028; it is estimated to grow at a CAGR of 18.8% from 2022 to 2028.

The increase in the number of renewable and solar energy projects is the key factor fueling the demand for batteries for solar energy storage. As per the US Energy Information Administration (EIA) data, power plant developers and operators are expected to add 51 GW of new solar and battery storage projects to the US power grid from 2022 to 2023, which will account to 60% of new generating capacity. Further, according to the US Energy Information Administration (EIA) forecast, 21.5 GW of solar generating capacity will be added to the country’s power grid in 2022. Further, in April 2022, The US Bureau of Land Management (BLM) planned to construct 39 utility-scale solar projects, which sums up more than 29 GW of plant capacity, on federal lands in six western states by the third quarter of 2025. The increasing investment trend in the renewable industry is further propelling the market growth. As per the US Energy Storage Monitor report, 345 MW of new energy storage systems were brought in operation in the second quarter of 2021. For instance, in August 2021, Reliance Industries Ltd planned to invest US$ 50 million in American renewable energy storage company Ambri Inc. to develop cheap alternatives to lithium-ion batteries. Similarly, in September 2021, EDF Renewables North America and Clean Power Alliance signed a 15-year Power Purchase Agreement (PPA) for the Solar-plus-Storage project. The project consists of a 300 MW solar project coupled with a 600 MWh battery energy storage system. In June 2022, the New York State Energy Research and Development Authority (NYSERDA) awarded EDF Renewable North America a 1 GW solar and battery storage contract as part of its 2021 solicitation for large-scale renewable energy certificates. The US energy storage developers had planned a capacity of 9 GW in 2022. Thus, such upcoming investment prospects, along with an increasing number of solar energy projects, are augmenting the demand for battery storage for solar energy..

With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America batteries for solar energy storage market at a substantial CAGR during the forecast period.

 North America Batteries for solar energy storage market Revenue and Forecast to 2028 (US$ Million)  

 North America Batteries for solar energy storage market Revenue and Forecast to 2028 (US$ Million)  
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North America Batteries for Solar Energy Storage Strategic Insights

Strategic insights for the North America Batteries for Solar Energy Storage provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

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North America Batteries for Solar Energy Storage Report Scope

Report Attribute Details
Market size in 2022 US$ 665.88 Million
Market Size by 2028 US$ 1,876.17 Million
Global CAGR (2022 - 2028) 18.8%
Historical Data 2020-2021
Forecast period 2023-2028
Segments Covered By Battery Type
  • Lead acid
  • Lithium-Ion
  • Nickel Cadmium
By Application
  • Residential
  • Commercial
  • Industrial
By Connectivity
  • Off-Grid
  • On-Grid
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Market leaders and key company profiles
  • BYD Company Ltd
  • EnerSys
  • LECLANCHE
  • LG Electronics
  • Samsung SDI Co., Ltd.
  • Kokam
  • SimpliPhi Power
  • Sonnen Group
  • Alpha ESS Co., Ltd.
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    North America Batteries for Solar Energy Storage Regional Insights

    The geographic scope of the North America Batteries for Solar Energy Storage refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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    North America Batteries for solar energy storage market Segmentation

    The North America batteries for solar energy storage market is segmented on the basis of battery type, application, connectivity, and country. Based on battery type, the market is segmented into lead acid, lithium-ion, nickel cadmium, and others. In 2022, the lithium-ion segment held a larger share of the market. And others segment is expected to register a higher CAGR during the forecast period. Based on application, the North America batteries for solar energy storage market is segmented into residential, commercial, and industrial. The industrial segment held the largest market share in 2022 and commercial is expected to register the highest CAGR in the market during the forecast period. Based on connectivity, the North America batteries for solar energy storage market is segmented into on-grid and off-grid. The on-grid segment held the largest market share in 2022 and the off-grid segment is expected to register the highest CAGR in the market during the forecast period. Based on country, the North America batteries for solar energy storage market is segmented into the US, Canada, and Mexico. In 2022, the US held a larger market share. On the other side, and it is also expected to register a higher CAGR during the forecast period.

    BYD Company Ltd.; EnerSys; LECLANCHE; LG Electronics; Samsung SDI Co., Ltd.; Kokam; E3/DC GmbH; SimpliPhi Power; and Alpha ESS Co., Ltd. are among the leading companies in  the North America batteries for solar energy storage market.

    The List of Companies - North America Batteries for Solar Energy Storage Market

    1. BYD Company Ltd                
    2. EnerSys
    3. LECLANCHE
    4. LG Electronics
    5. Samsung SDI Co., Ltd.
    6. Kokam                            
    7. SimpliPhi Power                   
    8. Sonnen Group                       
    9. Alpha ESS Co., Ltd.        
    Frequently Asked Questions
    How big is the North America Batteries for Solar Energy Storage Market?

    The North America Batteries for Solar Energy Storage Market is valued at US$ 665.88 Million in 2022, it is projected to reach US$ 1,876.17 Million by 2028.

    What is the CAGR for North America Batteries for Solar Energy Storage Market by (2022 - 2028)?

    As per our report North America Batteries for Solar Energy Storage Market, the market size is valued at US$ 665.88 Million in 2022, projecting it to reach US$ 1,876.17 Million by 2028. This translates to a CAGR of approximately 18.8% during the forecast period.

    What segments are covered in this report?

    The North America Batteries for Solar Energy Storage Market report typically cover these key segments-

    • Battery Type (Lead acid, Lithium-Ion, Nickel Cadmium)
    • Application (Residential, Commercial, Industrial)
    • Connectivity (Off-Grid, On-Grid)

    What is the historic period, base year, and forecast period taken for North America Batteries for Solar Energy Storage Market?

    The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Batteries for Solar Energy Storage Market report:

  • Historic Period : 2020-2021
  • Base Year : 2022
  • Forecast Period : 2023-2028
  • Who are the major players in North America Batteries for Solar Energy Storage Market?

    The North America Batteries for Solar Energy Storage Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:

  • BYD Company Ltd
  • EnerSys
  • LECLANCHE
  • LG Electronics
  • Samsung SDI Co., Ltd.
  • Kokam
  • SimpliPhi Power
  • Sonnen Group
  • Alpha ESS Co., Ltd.
  • Who should buy this report?

    The North America Batteries for Solar Energy Storage Market report is valuable for diverse stakeholders, including:

    • Investors: Provides insights for investment decisions pertaining to market growth, companies, or industry insights. Helps assess market attractiveness and potential returns.
    • Industry Players: Offers competitive intelligence, market sizing, and trend analysis to inform strategic planning, product development, and sales strategies.
    • Suppliers and Manufacturers: Helps understand market demand for components, materials, and services related to concerned industry.
    • Researchers and Consultants: Provides data and analysis for academic research, consulting projects, and market studies.
    • Financial Institutions: Helps assess risks and opportunities associated with financing or investing in the concerned market.

    Essentially, anyone involved in or considering involvement in the North America Batteries for Solar Energy Storage Market value chain can benefit from the information contained in a comprehensive market report.

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