The European PV market in October 2024 saw a mixture of stability and seasonally driven changes. Overall, there was a downward trend in solar component prices across most categories. The PV Purchasing Managers’ Index (PMI) edged down to 68, returning to its August level, signaling that demand remains resilient, but the season is drawing to a close.
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The European PV market showed renewed vigor in September, as the PV Purchasing Managers’ Index (PMI) saw a notable uptick to 71, up from 68 in August. This indicates a clear resurgence in demand despite ongoing price declines in the solar component market. Solar panel prices continued their downward trajectory across nearly all categories, with significant drops observed in both monofacial and bifacial segments.
The summer of 2024 has not led to an increase in demand for solar panels. Due to the low prices, the financial problems continue, according to Gerard Scheper, CEO of European Solar. "Consumer interest and market are actually temporarily 'on pause', but a company cannot be on pause for a year. Fortunately, the C&I market and batteries still offer some hope."
The European PV market has shown resilience in August, with the PV Purchasing Managers’ Index (PMI) holding steady at 68, reflecting consistent demand despite ongoing industry challenges and the vacation season. However, prices across all major categories, including Monofacial and Bifacial modules, continued their downward trajectory, with significant declines noted in both N-type and P-type segments.
The battle of the Chinese suppliers continues. Hopes that more powerful solar modules will achieve higher prices have not yet been fulfilled. Nevertheless, interesting new products were presented this summer.
Due to an ever-expanding supply, without increasing demand, a gigantic overcapacity in the solar energy sector has rapidly arisen in the past year. The rapidly dropped prices have subsequently caused financial problems throughout the supply chain. "There's no one taking advantage of this at all”, says Gerard Scheper, CEO of European Solar. To put a stop to the current situation, the Chinese government wants to take measures.
The pace of PV installations across Europe continues slight deceleration after a peak in May. This trend is reflected in the PV Purchasing Managers’ Index (PMI), which remained unchanged vs June, at the level of 68. Additionally, there has been a notable reduction in solar panel prices across almost all categories.
The pace of PV installations across Europe is now beginning to slow slightly. This trend is reflected in the PV Purchasing Managers' Index (PMI), which returned to April’s levels in June after a rise in May. The June reading stands at 68, down from 72 in May. Additionally, there has been a significant decline in solar panel prices across all categories.
.Following a robust start to the year, the pace of PV installations across Europe continues to stabilize with minor fluctuations. The PV Purchasing Managers' Index (PMI) for May shows a reading of 72, a slight increase from 68 in April, indicating a positive shift in market sentiment. Despite a moderate demand outlook, solar panel prices have seen a notable decline across various categories.
Now that spring is halfway through and temperatures are starting to rise, there is also a cautious optimism in the solar sector. There is a very slight recovery in prices and a pick-up in demand. The big question seems to be: how will demand react to real price increases? "Everyone is now used to low prices and will want to buy just before a price increase," says Gerard Scheper, CEO of European Solar. "That can lead to chaos in another way."
The pace of PV installations across Europe is showing a slight deceleration. This trend is mirrored in the PV Purchasing Managers' Index (PMI), which has recorded modest yet consistent declines since February. Along with softening demand for residential modules, there is a noticeable fall in solar panel prices, particularly in specific categories.
What are the most important PV market and industry trends? Bartosz Majewski, CEO and Co-Founder of Menlo Electric, provides answers and his point of view in our new monthly series.
Prices for solar modules have remained largely stable for the past four weeks. Nevertheless, there is no recovery in sight that would help European module production. Politicians must take urgent action here.
The electricity industry and energy intensives join forces to boost Europe’s industrial competitiveness in a net-zero economy.
C&I solar modules with power classes 450-500 W were in short supply in March, driving average monofacial prices up from 0.124 to 0.129 EUR/ W. The increase was despite sluggish need for residential PV modules, with full black modules recording another slight price drop. Despite this moderate price rebound, the buyers remained bullish about the demand in the upcoming month.
Engin Yaman, Managing Director of LONGi Germany, on current market developments, the security of supply chains and price developments, the discussion on Chinese price dumping and the business strategy for Europe and Germany.
Solar modules are becoming cheaper and cheaper. This applies to both standard and efficient modules. The expected stabilisation has failed to materialise or is at least a long time coming.
Average trading PV module prices were at 0.124 EUR/W across Europe in February both for bifacial and monofacial modules. PV PMI (Purchasing Managers’ Index) score increased from 68 in January to 73 in February, underlining strong demand. Major market players expect manufacturing overcapacity to persist.
Solar wholesalers are in a problematic situation again due to very expensive stock and slumping prices. An analysis and outlook from our guest author Gerard Scheper, CEO of European Solar.
Module prices continue to fall, but not as fast as in the past weeks. There are signs that the downward slide is slowly coming to an end. Because at the current prices, no one is earning anything.
LevelTen Energy released its latest PPA Price Index report, which shows that in Q3 2023, the blended index of wind and solar 25th Percentile (P25) PPA prices increased a modest 2% across Europe. But there were some important exceptions and stability may not last long.
Due to the continuously dropping prices of modules, much of the solar power sector is living exciting times. "We are again in a similar situation to how it was before covid," says Gerard Scheper, CEO of European Solar. "Only now the industry is made up of 50 to 60 percent new people, who have never experienced this before."
Record-low prices of solar imports risk damaging the EU’s open strategic autonomy goals, SolarPower Europe warns today in a letter to the European Commission.
One man's sorrow is another man's joy: module prices are continuing to fall. This is good for planners and installers. But wholesalers are coming under even greater pressure.
