Solar Battery Market Size

Solar Battery Market size was USD 256.5 million in 2024 and is estimated to reach USD 1.97 billion by the end of 2037, expanding at a CAGR of 17% during the forecast period, i.e., 2025-2037. In 2025, the industry size of solar battery is evaluated at USD 300.1 million.

The evolving environmental regulations are driving the attention of several countries toward renewable energy sources including solar. For instance, according to the International Energy Agency (IEA), the global annual renewable capacity additions surpassed by nearly 50% to almost 510 gigawatts (GW) in 2023. Also, globally solar photovoltaic (PV) alone accounted for three-quarters of renewable capacity additions. The rise in the demand for cleaner energy is significantly increasing the adoption of solar power to combat carbon emissions. Advanced solar batteries allow industrial, commercial, or residential sectors to reduce their dependence on the grid and lower their carbon footprint. Thus, a hike in the solar energy demand is anticipated to directly influence the sales of solar batteries.