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Q1 2023

Industry Report

Solar and Storage: Opportunities in the Smart Home

The recent years have brought a series of natural disasters that impacted electrical grids and raised awareness of grid resilience as both an infrastructure issue and a very personal issue in consumers' lives as they struggled through a pandemic with power outages caused by weather or fires. Meanwhile, new technology innovations and trends such as the push to electrify our automotive fleet will substantially increase energy demand in the near future. With climate change disasters happening today and the EV revolution coming tomorrow, there is a significant opportunity for solar and storage providers to deliver solutions to support a lower-carbon and more resilient smart home of the future. This industry report addresses established leaders and notable new entrants who are leveraging solar and storage solutions to help consumers save money, meet rising energy demand, and even reduce their environmental impact.


Download Table of Contents (PDF)

Bottom line

Demand for Renewable Energy

Consumer Adoption and Purchase Channels

Costs Savings and Backup Power at Home

Purchase Drivers

The Players in the Home Solar Market

Leading Solar Providers

Components of a Home Solar System

Solar Panels and Solar Shingles – Key Players

Inverters and Controllers – Key Players

Batteries – Key Players

Market Drivers and Barriers

Market Drivers

Market Barriers

Policy Impact and Implications

Inflation Reduction Act (IRA)

Bipartisan Infrastructure Law (BIL)

Net metering

Solar’s Impact on Construction and the Connected Home

Solar and Home Builders

Solar as part of home energy management


Companies Researched or Interviewed for Report

List of Figures



Perception of Electricity Bill by Income
Consumer Perception Regarding Renewable Energy Sources
Ownership of Major Home Energy Equipment
Most Appeal Purchase Channel of Solar PV and Battery Storage
Purchase Drivers of Solar Panels
The Home Solar Ecosystem
Leading Solar Providers
Solar Providers and Operating States
Example Device Configuration
Panel and Shingle OEMs
Inverter OEMs
Battery OEMs
High Intention of Purchasing Solar Power Generator Panels
High Familiarity with Solar Panel Generators
Data Included in Creating the Forecast
Residential Solar and Storage Revenue Forecast - US


© February 2023 Parks Associates
All rights reserved.  No part of this book may be reproduced, in any form or by any means, without permission in writing from the publisher.

Printed in the United States of America.

Parks Associates has made every reasonable effort to ensure that all information in this report is correct.  We assume no responsibility for any inadvertent errors.

ADT Solar
Austin Energy
CPS Energy
GAF Energy
Georgia Power Company
GreenTech Renewables
Hanwha Q CELLS
LG Energy Solution
Native Solar
NextEra Energy
O3 Energy
Panasonic Energy Solutions
Savant Power
Schneider Electric
Silicon Labs
Sol Ark
Tesla Energy
Texas Solar Energy Society



The Parks Points Newsletter Features All Aspects Of Our Research, Including Smart Home, Iot Devices, Entertainment And Digital Media, Security, Energy, Health, And Consumer Data.