Global solar PV supply chain
To meet this growing demand, the solar manufacturing industry has experienced remarkable growth in the last few years, with
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.
Specifically, in August 2025, the Price Index showed: about €0.055/Wp for low-cost photovoltaic modules, unchanged from July prices. “Manufacturers are moving quickly to end the devastating price war. The Chinese government is gradually phasing out tax incentives and subsidized solar module exports.
Mainstream Modules: Average price of €0.11/Wp, stable compared to September but 21.4% lower than January 2024. Low-Cost Modules: Average price of €0.065/Wp, a 7.1% decrease from September and 27.8% from January 2024. These trends are exerting mounting pressure on the photovoltaic sector.
To meet this growing demand, the solar manufacturing industry has experienced remarkable growth in the last few years, with global module manufacturing capacity increasing form only 326 gigawatts in 2020 to more than 1.3 terawatts in 2023.
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