However, as the primary cost component of photovoltaic modules, the price of solar cells plays a decisive role in module pricing. Due to the oversupply of polysilicon in earlier periods, prices have been under sustained pressure since 2023, even falling below cost levels in the first half of 2024.
1. Cost Factors Driving Price Fluctuations The cost of photovoltaic modules is primarily composed of solar cells, glass, encapsulation film, and labor expenses.
The current round of photovoltaic module price adjustments has imposed significant operational pressure on industry players. Leading companies, with their high R&D costs, are at a disadvantage in the price competition. Meanwhile, small and medium-sized enterprises find it challenging to endure prolonged price wars.
However, given the supply-demand pressures and the competitive landscape of the industry, photovoltaic module prices are expected to remain in a low adjustment phase in 2025. Smaller enterprises may intensify their inventory clearance efforts to survive, which could create temporary downward pressure on market prices.
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However, as the primary cost component of photovoltaic modules, the price of solar cells plays a decisive role in module pricing. Due to the oversupply of polysilicon in …
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For Europe, the implications are clear: the era of rock-bottom module prices is coming to an end. Project margins will come under pressure, but Scheper also sees …
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US solar PV module prices have stabilised at just over US$0.28/W in the three months to November 2025, according to Anza.
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