2 compelling reasons for solar panel prices to rise?

Solar panel prices hit a historic low this September. However, experts say it is unsustainable in the long term for manufacturers to sell panels below production costs and continue bleeding money. Why will panel prices have to rise? And when will it happen? Which technologies have the greatest potential?

You can discuss price trends and the latest developments in photovoltaics with leading experts at the international conference taking place in Prague on Wednesday, 9 October 2024, during the Smart Energy Forum modern energy trade fair

Price floor followed by a quick turnaround?

According to the OPIS Solar Market Price Index, published by US consultancy Dow Jones, wholesale prices for TOPCon panels on the world’s main market, China, settled last week at USD 0.090-0.095/Wp. This is a new price record in the history of the global photovoltaic industry.

However, prices for silicon wafers, the basic raw material used to manufacture solar panels, began rising in early September for the first time since 2023. The increase was confirmed by leading Chinese manufacturers, who are no longer willing to lose money producing them at the absurdly low prices currently prevailing on the market.

The second reason for solar panel prices to rise is a change in how tenders for the construction of huge solar parks in China are evaluated. Last week, a group of the largest solar panel manufacturers, together with the China Photovoltaic Industry Association (CPIA), called on the Chinese government to review the criteria for selecting suppliers, where price has so far been the main deciding factor.

This criterion has triggered a price war, resulting in extremely low solar panel prices on the market, threatening product quality and the safety of solar power plants. Leading manufacturers have therefore proposed that product innovation, combined with suppliers’ financial strength, be the main criterion in tenders instead of price.

Which panel technologies have the greatest potential?

Experts say that two of the most promising photovoltaic panel technologies will be developed in the near future: TOPCon and HJT solar panels.

TOPConcemented its position as the dominant technology in photovoltaic panel manufacturing this year and willcontinue to dominate in the future. This year, TOPCon panels will account for 60 % of the global market, and their production capacity will reach as much as 900 GW.

Experts estimate that bifacial TOPCon panels will have approximately 15 % higher yields (the amount of energy generated per 1 kW of installed capacity) than XBC or HJT panels.

The efficiency of converting sunlight into electricity withTOPCon panels will increase in the futurethrough integration with perovskite technology.As a result, TOPCon/perovskite tandem solar cells have the potential to achieve efficiencies of over 30 %.

You can discuss trends and developments in the photovoltaic market with leading experts at the international photovoltaic conference Smart Energy Forum in Prague on Wednesday, 9 October 2024.

What else can you look forward to at Smart Energy Forum?

As every year, Smart Energy Forumwill include an exhibition featuring more than 80 companies across an area of 8000 m2. You can see the most powerful panels from LONGI Solar, the new generation of inverters from SolarEdge, and batteries from AEG Solar that are just coming onto the market.

Discount for SAPI members

ADMISSION to the exhibition is FREE. SAPI members can get a 20% discount on the conference by registering online and entering the discount code: SEF24SAPI.

Notice: The discount code is valid for a limited time, until 27 September 2024!!!