On February 3, Toshiba Energy Systems & Solutions Corporation, a subsidiary of Toshiba Group, announced that it would withdraw from the residential solar power generation system business. The company decided to terminate the development of a new sales system and the transfer of after-sales services related to this business. The original Toshiba-related services will be performed by the acquirer - Xsol Co., Ltd. and its subsidiaries.

It is understood that the sale of the asset does not mean that Toshiba has completely withdrawn from the field of solar power generation. The company stated that the photovoltaic power generation system business is positioned as one of the key areas. In the future, it will focus on the industrial photovoltaic power generation business with engineering capabilities and provide high-reliability one-stop solutions.

It is reported that as early as 2010 Toshiba began selling residential solar power generation systems. Since the introduction of the feed-in tariff (FIT) system in Japan in 2012, the photovoltaic power generation market has expanded rapidly, and the company's business has also expanded. However, due to intensified market competition and worsening profitability, Toshiba decided to terminate the business and transfer the maintenance service business after comprehensive consideration of its future business strategy.

Currently, Toshiba is also focusing on next-generation solar cells, launching a large-area polymer thin-film perovskite solar module in 2021, saying the result was the highest efficiency reported at the time. Toshiba plans to start mass production after 2025, relying on the material technology foundation to lay out perovskite, and strive to show its talents in the photovoltaic cell market.