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In a new weekly update for pv magazine , OPIS, a Dow Jones company, offers a quick look at the main price trends in the global PV industry.
Chinas solar module prices have fallen to their lowest values ??in history, as both buyers and sellers reiterate that the module market continues to experience intense competition and weakening demand, according to OPIS data.
The Chinese Module Marker (CMM), OPISs benchmark for Mono PERC modules originating from China, and TOPCon module prices plummeted for the first time in five weeks to $0.151 and $0.157/W respectively this week.
The more than 7% drop in prices for both MMC and TOPCon modules comes at a time when many vendors are fighting for market share. According to a veteran of the solar market, “there are more young people who want to sell their products and can only compete on price” with the main manufacturers of first-level modules.
According to one source, one of these large manufacturers could offer prices of up to $0.150/W for Mono PERC modules if paid in advance, while TOPCon prices of up to $0.153/W - to the disbelief of some - were communicated during the OPIS weekly market survey. Even at these low prices, developers do not buy because they hope that prices will drop further and only then they will enter the market, the source added.
“We are entering an interesting period” marked, among other factors, by “high levels of stocks abroad,” according to an experienced market observer. Module suppliers in Europe are facing a heavy inventory burden, to the point that it is a “red sea market,” said a source at one of the major module makers.
Weakness is also evident in other export markets. In Southeast Asia, a module seller at the ASEAN Sustainable Energy Week (ASEW) in Bangkok told OPIS that sales were very limited on the first day of the event, which is usually when transactions they reach their peak. Despite falling module prices, EPCs continue to face a “red ocean” as module costs still make up 50% of the total cost of a solar project, a Thai EPC told OPIS at ASEW. In Latin America, the lowest price for Mono PERC modules at the Brazilian Intersolar South America fair was $0.130/W, according to one source.
Looking ahead, the market is talking about a short-term price increase due to the increase in the costs of the various components of the modules. One source noted that prices for soda ash, used to make photovoltaic glass, have increased significantly, while another said the same for ethyl vinyl acetate (EVA), used as an encapsulant for the modules.
Overall, however, concerns about overcapacity remain on the horizon and could drive prices back down. “Remember, 1 yuan/W before the end of the year,” warned a market veteran.
OPIS, a Dow Jones company, provides energy prices, news, data and analysis on gasoline, diesel, jet fuel, LPG/LNG, coal, metals and chemicals, as well as renewable fuels and environmental commodities. In 2022 it acquired the pricing data assets of the Singapore Solar Exchange and now publishes the OPIS APAC Solar Weekly Report . |
