Solar Charge Controller Market Size

Solar Charge Controller Market size was over USD 2.47 billion in 2023 and is poised to exceed USD 15.72 billion by 2036, witnessing over 15.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of solar charge controller is estimated at USD 2.77 billion. The growth of the market can be attributed to the increasing need to control the voltage and power supply from the solar panels. Solar charge controllers are primarily used in off-grid solar panels, to regulate the flow of energy into the batteries. The rising adoption of solar energy across the world, has led to the demand for a controller system to regulate the working of these panels. The growing awareness for the use of clean and renewable energy to curb the rising pollution level is a major growth driver for the solar charge controller market. Moreover, the increasing prominence of utility of solar energy on residential scale is expected to boost the market growth. According to the data by the International Energy Agency (IEA), solar power generation crossed 720 TWh in 2019, registering a growth of 22% from last year.