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Panasonic is formally stepping out of the residential photo voltaic and battery storage market, bringing an finish to its EverVolt product line. The choice, introduced in April, displays the corporate’s broader technique to refocus on core areas the place it sees higher long-term potential.
Panasonic was as soon as a major participant within the photo voltaic house, however its market presence has light in recent times. In accordance with EnergySagethe corporate’s share of photo voltaic panel installations dropped sharply, from 35% in 2020 to only 6% by 2024. Its battery storage numbers adopted an analogous pattern, falling from 7% to 1%.
The corporate already stopped manufacturing its own solar panels in 2022, shifting to third-party manufacturing. Now, with mounting competitors and shifting priorities, Panasonic has opted to wind down its whole residential power providing.
For present clients, there’s some reassurance: Panasonic says it should proceed to honor product warranties and supply buyer help for each put in and pending programs. Assist stays accessible through its web site and devoted e mail channels.
“Now we have made the choice to discontinue our photo voltaic and battery storage enterprise line. This modification permits us to deal with areas the place we will have the best strategic influence. We stay assured within the know-how and grateful to our companions and clients who’ve supported this journey.
“We are committed to a smooth transition and will continue to provide customer support to existing customers, as well as future customers who are undergoing installations and commissioning. Please rest assured that all warranties will be honored for both installed products and those not yet installed. Where third-party warranties apply, we will continue to support our customers by providing clear direction and points of contact. Support remains available via our website and our dedicated solar and battery storage email at panasonicsolar@us.panasonic.com.” — Panasonic
Whereas the information doesn’t come as an entire shock to these watching the trade, it does mark the exit of one of many few legacy electronics giants nonetheless concerned in residential photo voltaic. Panasonic’s departure underscores how powerful and fast-moving the house power market has develop into, even for the most important names.
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