May 8, 2025: Panasonic said on April 28 it is shutting down its solar and energy storage business line, saying it was “no longer the right fit”.

In a statement posted on Panasonic’s website, the company gave few details about its reasoning for the move, other than to say it would now focus on areas where it can have the greatest strategic impact.

“We remain confident in the technology and grateful to our partners and customers who have supported this journey.”

Naoki Kamo, president of Panasonic Eco Systems North America, stressed in a letter posted online using reddit that the group was “very much still in business”.

“While we continue to believe in the potential of solar and energy storage, it is no longer the right business fit for us at this time.”

However, Kamo pledged to continue warranty support and points of contact for all existing customers and customers whose installations are still in the process of being completed.

The announcement came just days after the US Solar Energies Industry Association revealed the ‘top solar states’ of 2024.

The association said that a decade ago, only three US states had more than 1GW of solar capacity installed, while today 33 states can boast greater than 1 GW of capacity, with more states joining the list every year.

“From the sunbelt to the northeast to the Midwest, solar and energy storage are delivering new opportunities to local economies across the US,” the association said.