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In a new weekly update for pv magazine , OPIS, a Dow Jones company, offers a quick look at key pricing trends in the global photovoltaic industry. China : The Chinese Module Marker (CMM), OPIS’s benchmark for TOPCon modules from China, rose 1.14% to $0.089/W Free-On-Board (FOB) China, with higher price indications between $0.085-$0.093/W. FOB China prices for Mono PERC modules remained steady at $0.085/W FOB China, with indications between $0.082-$0.088/W. TOPCon module prices in China continued to rise for the fifth consecutive week, driven by strong domestic demand amid expected installation growth in the second quarter. According to industry sources, a 200 MW FOB cargo deal for the top five TOPCon modules was closed in April at $0.090/W. In recent weeks, several transactions have occurred between $0.080 and $0.090 FOB per square meter in China. On the forward curve, price increases occurred primarily in the first few months, due to the trickle-down effect of spot prices. Although industry sources expect prices to soften after April, several manufacturers have maintained their supply levels until June. Second-quarter 2025 loadings rose 1.14% to $0.089/W, while third-quarter 2025 prices rose 1.16% to $0.087/W. Prices for the fourth quarter of 2025 and first quarter of 2026 were flat at $0.086 and $0.085 per barrel, respectively. Second-quarter 2026 loading prices remained unchanged at $0.085/W, with bids ranging from $0.080 to $0.090/W. According to OPIS data, TOPCon modules =600W have increased by 5.9% since the beginning of February, compared to 2.2% for TOPCon modules 450W in the same period. Europe : DDP Europe TOPCon module prices for 600W or larger increased by 1% for the week. OPIS assessed the average price at €0.101/W for Tier 1 panels. This is the third consecutive week of price increases for DDP EU TOPCon modules. EXW Europe TOPCon prices for modules =450 W remained stable at an average price of 0.103 euros/W. The TOPCon modules made in Europe were sold at an estimated price of between 0.250 and 0.300 euros/W. A major developer said it is seeing a high level of activity for new solar projects in Eastern Europe, as the region is on track to nearly quadruple its cumulative capacity by 2033. A Dutch manufacturer told OPIS that its plans to build a 1 GW PV module factory in the Netherlands are on hold due to market uncertainties, unclear regulations, and the lengthy process of getting the European NetZero Industry Act off the ground. US : TOPCon =600W DDP US spot price was valued at $0.260/W this week, down 1.89% week-over-week, as customers continue to eye the availability of lower-cost modules from Lao and Indonesian suppliers between $0.21 and $0.24/W. The spot price of Mono PERC modules =450W EXW remained stable at $0.312/W. In the forward market, OPIS valued TOPCon modules in Q1 2026 at $0.276/W, and Mono PERC modules in the same period at $0.266/W. With the new tariffs on aluminum and steel going into effect, a Canada-based developer said he has seen the spot price of TOPCon modules from Southeast Asia to the U.S. rise by about $0.01/W, from an average of $0.23 to $0.24/W. As US assemblers continue to come online, the same source said he sees US-assembled module offerings “all over the place,” from the high $0.20s/W to the high $0.30s/W, and said pricing appears “largely random” at this point, with no clear pricing trend from supplier to supplier. New import data provided by petitioners in the ongoing AD/CVD case last week show that, assessed by value, imports of solar cells and modules from January 2024 to January 2025 grew by 214% from Laos and 4,797.96% from Indonesia. |
