Recent technological advancements in the solar energy field have drastically brought down the cost of power generation, thereby lowering the price of solar power, and leading to increased consumption of solar power. The addition of energy storage systems to traditional solar power generation systems can take the solar power industry to the next level and help bolster growth in emerging solar markets. In order to do this, energy storage systems need efficient, reliable, and maintainable energy data management systems that are IIoT-enabled. In this white paper, we look at some of the key trends in the renewable energy market and discuss how the residential solar power market can benefit from several new technological advancements in this field.