By Panasonic Corporation of North America announced its decision to discontinue its solar and battery storage business lines, including the EverVolt product suite.
The move marks a significant shift for the electronics giant, which had been a prominent player in the residential solar market.
In a statement, the company cited the decision as part of a broader strategy to focus resources on areas where the company can deliver the greatest long-term value.
Panasonic Corporation is a worldwide leader in the development of diverse electronics technologies and solutions for customers in the consumer electronics, housing, automotive, and B2B businesses. The company, which celebrated its 100th anniversary in 2018, has expanded globally and now operates 591 subsidiaries and 88 associated companies worldwide, recording consolidated net sales of 7.982 trillion yen for the year ended March 31, 2018.
Despite the exit, Panasonic emphasized its commitment to honoring existing warranties and providing ongoing customer support for installed systems.
Support will remain available through the company’s website and dedicated customer service channels .
The company’s departure from the solar sector follows a period of declining market share.
According to EnergySage, Panasonic’s share of the solar panel marketplace dropped from 35% in 2021 to 6% in 2024, while its battery storage share fell from 7% to 1% over the same period.
The rise of competitors like Tesla’s Powerwall 3, which held 63% of the EnergySage Marketplace share nationwide in 2024, contributed to Panasonic’s diminished presence.
Panasonic’s exit mirrors similar moves by other major electronics firms, such as LG, which left the solar panel market in 2022.
Industry analysts suggest that intense competition and price pressures have made it challenging for premium brands to maintain profitability in the residential solar space .
While Panasonic’s solar and storage business winds down, the company continues to invest in other energy-related sectors.
Notably, Panasonic has been expanding its electric vehicle battery production, including a $4 billion EV battery plant in Kansas, underscoring its commitment to areas with significant growth potential.
For consumers and installers, Panasonic’s departure underscores the importance of diversification and adaptability in a rapidly evolving energy market.
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