Panasonic to Shutter Its Solar and Energy Storage Division After 25 Years

May 06, 2025

Panasonic has announced the closure of its solar and energy storage division after 25 years in the industry. Once a major supplier to Tesla/SolarCity, the company will cease manufacturing solar panels, inverters, and batteries for the residential market. According to Mukesh Sethi, Panasonic's solar business director, this strategic pivot is financially driven by recent industry transformations including declining component costs, emerging technologies, and increasing capital requirements for larger cell formats. The decision reflects broader market challenges where continuous manufacturing investment has become unsustainable amid shrinking margins. Panasonic plans to outsource production while maintaining focus on product design and sales activities in the renewable energy sector.

cleanenergy, sustainability, energystorage, panasonic