Solar panels are sold in Europe for pennies: experts named the reasons for the price drop

Solar panel prices in Europe will remain low in the short term — only 0.06 euros per 1 watt.

Solar module prices reached a new low this week, says Lin van Bellen, business development manager in Europe for Search4Solar, a European platform for buying and selling solar energy products. PV Magazine writes about this.

This week, Search4Solar, the European platform for buying and selling solar panels, inverters and batteries, recorded a record price for solar panels — €0.055 ($0.058)/W.

“This is the first time the threshold of €0.06/W has been broken,” — said Lin Van Bellen, manager of business development in Europe at Search4Solar.

“This is a significant opportunity for businesses and installers looking to invest in sustainable energy. For our customers, it means they can now buy high-quality solar panels at the lowest price and achieve their sustainability goals at a lower cost,” — he concluded.

Van Bellen noted that the recent decline in prices has moved from small, incremental steps to a larger decline.

“We're seeing suppliers looking to reduce their inventory, which has led to extremely competitive pricing. Being the first to drop prices creates momentum to buy, which puts you ahead of the pack,” — he stated.

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“However, this means that producers will have to go even lower to become competitive again. When inventories are reduced dramatically, there will be a better balance between supply and demand again.”

Search4Solar said that several factors, including high production rates, improved supply chain efficiency and increased market competition, led to this price drop. Suppliers responded by cutting prices to meet demand and balance their inventories.

Exceeding the threshold of 0.06 euros/W could mean that the prices of solar modules on the European market have reached their lowest point.

“This is the “bottom” in the EU”, — Van Bellen said. “The next step could be to send the product back to China or sell it in Africa.” Search4Solar expects prices to remain low in the short term, but supply and demand can quickly affect this trend.

“Customers wishing to take advantage of this offer should act quickly. With historically low prices, now now is the time to invest in solar energy,” — said van Bellen.

“These prices represent a rare opportunity for installers and project developers to save on costs while making sustainable energy more affordable for their customers.”

According to the latest OPIS data, prices for tunnel oxide passivated contact (TOPCon) solar modules last week ranged from a low of 0.080 EUR/W to a high of 0.120 EUR/W, and the average price was EUR 0.101/W.