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In a new weekly update for pv magazine , OPIS, a Dow Jones company, provides a quick look at key price trends in the global PV industry.
In the Chinese market , the Chinese Module Marker (CMM), OPIS’ benchmark assessment for China’s TOPCon modules, was valued at $0.095/W, stable week-on-week amid unchanged market fundamentals. Market participants said that TOPCon prices below $0.09/W FOB China were still circulating in the market.
Cargoes below $0.09/W FOB China were sold at a loss to maintain market share and generate cash flow, according to an industry source. For large module makers, maintaining cash flow is more important than avoiding losses as they need to pay salaries and loans on equipment, the industry source added.
In the US market , the US spot price for TOPCon modules delivered duty paid (DDP) fell to $0.290/W, with indications of between $0.220/W and $0.330/W, while prices for delivery in the first quarter of 2025 averaged $0.301/W, with indications of between $0.280/W and $0.325/W.
OPIS assessed U.S. mono PERC module prices for fourth-quarter delivery at $0.249/W, with guidance between $0.215/W and $0.310/W, while cargoes for 2025 delivery were quoted between $0.270/W and $0.315/W.
According to a Southeast Asian producer, US module prices are seeing a wide range due to the availability of alternative imports from countries not affected by anti-dumping and countervailing duties (AD/CVD) on solar components imported into the US. The producer added that increased competition from a variety of sources has “disturbed” US domestic prices. Currently, Indonesian manufacturers are offering modules for delivery by the end of 2025 at around $0.24/W, similar to levels offered by suppliers in Vietnam, Thailand, Malaysia and Cambodia before the investigation began, a US source told OPIS. The source also shared that Indian manufacturers quoted around $0.29/W for the same period.
Another market source noted that increased Customs and Border Protection (CBP) scrutiny of modules imported from India in recent months will further fuel uncertainty and widen the price range. Nearly a third of detained electronic goods from India have been rejected, compared with just 5.4% of rejections of detained goods from Southeast Asian producers.
In the European market , TOPCon module prices fell slightly in the week ending August 27, with prices ranging from a low of €0.090 ($0.1)/W to a high of €0.122 ($0.14)/W, with an average price of €0.107 ($0.12)/W. In terms of freight, Asia-North Europe ocean freight rates fell 1% to $8,264 per forty-foot equivalent unit (FEU). This corresponds to $0.0196/W.
The market for imported Chinese TOPCon panels evolved from overstocking in Q2 to near shortage during the summer months. In Q3, availability of Chinese solar modules is increasing, but this seems to be accompanied by price pressure for suppliers. In high-end technology panels, all stocks have been consumed.
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 . |
