Why did solar module prices rise in May 2025?

In May 2025, shifting market dynamics saw solar module prices continue to rise, with supply constraints and firm demand putting upward pressure on pricing. In contrast, inverters trended lower, highlighting diverging developments across the PV value chain.

Is the European solar market in motion?

Expert analysis: the solar market in motion With a PMI of 70 and tightening module supplies, the European solar market stands at a pivotal moment. Rising prices for P-type and Full Black modules, driven by diminishing inventories, suggest supply constraints will linger into Q3, especially as global demand intensifies.

Why did solar prices rise in May?

Up up up – monofacial P-type solar modules (shown in green) saw the sharpest price increase. Prices for modules continued their climb in May on strong demand and limited supply, while inverter prices edged down. The PV Purchasing Managers' Index held held firm as brand leaders reshuffled, according to figures from sun.store.

Why are solar module prices so volatile in 2023?

Importation duties, oversupply, and supply chain costs have led to significant solar module pricing volatility, particularly since the start of 2023. New technology is rapidly evolving improving efficiencies with the market seeking more clarity around the changing prices of solar modules.

What are the main price trends in the global PV industry?

In a new weekly update for pv magazine, OPIS, a Dow Jones company, provides a quick look at the main price trends in the global PV industry. FOB China: The Chinese Module Marker (CMM), the OPIS benchmark assessment for TOPCon modules from China was stable at $0.085/W Free-On-Board (FOB) China, with price indications between $0.080-0.090/W.

Why are module prices stable?

Despite recent increases in upstream costs, module prices remain stable, largely due to high downstream inventories, which have absorbed much of the cost pressure. A Tier 1 producer expects prices to stabilize rather than increase in the short term, as high downstream inventories continue to shield the market from upstream volatility.