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Panasonic Exits Solar and Battery Storage Business Amid Market Pressures

Panasonic, a well-known Japanese electronics giant, has officially announced its exit from the solar and battery storage business. The company stated that this move is part of a broader strategy to focus on areas where it can make a stronger impact. Despite shutting down its solar division, Panasonic assured customers that existing warranties will be honored, and support will continue for both installed and upcoming products.

Panasonic’s solar journey began in the 1970s with research and gained momentum in 2009 after acquiring Sanyo, which had developed advanced HIT (Heterojunction with Intrinsic Thin layer) solar cell technology. The company became a known player in the residential and commercial solar markets, especially in Japan, North America, and Europe. Its EVERVOLT line included solar panels, home batteries, and energy management systems.

However, from 2021 onward, Panasonic started scaling back its manufacturing operations due to increasing price competition, particularly from Chinese firms, and declining profitability. By 2022, the company had stopped making solar panels in-house and shifted to outsourcing under an OEM (original equipment manufacturer) model while keeping the EVERVOLT brand alive.

Now, facing even tighter margins and market saturation, Panasonic has decided to fully exit the solar and storage sector, ending a decades-long journey in clean energy solutions.