According to Search4Solar, a Dutch-based online trading platform for European PV products, PV module prices in Europe have rebounded for the first time after months of decline, with an increase of over 20%.
Bart Wansink, CEO of Search4Solar, stated that the platform received the latest quotes from 10 undisclosed manufacturers, indicating that prices for TOPCon modules used in residential and commercial projects in Europe have risen by more than 20%. In October 2024, such modules were priced at approximately €0.07/W, but they have now increased to €0.10/W, while all-black modules have even higher quotes, reaching €0.12 ($0.12)/W.
Currently, PERC modules are still relatively inexpensive, priced between €0.077-0.08 ($0.080-0.083)/W. However, as manufacturers accelerate their transition to advanced technologies such as n-type TOPCon and Heterojunction (HJT), PERC modules are gradually being phased out of the market, and prices for other battery technologies may further increase.
Wansink predicts that module prices will experience another round of increases after the Chinese New Year holidays. “Although some suppliers are still quoting €0.08/W, this price is expected to rise by 15% from February 1, 2025,” he added. “Manufacturers are no longer willing to produce below cost, and market pressure is gradually increasing.”
Furthermore, Search4Solar pointed out that major polysilicon producers have reduced production, which may lead to supply shortages and further push up module prices. However, the platform believes that although there is still some oversupply in some sectors of the PV market, this situation will not last long.
