Australian solar panel prices started to fall in June, but solar research firm Sunwiz says that the full consequences of the global supply glut have yet to become evident. Adding to this situation is the fact that major manufacturer Tongwei Solar, which mostly sells in Australia under the TW Solar brand, has blazed into the Australian market this year, shifting former market share dynamics.
Although Tongwei is an established company, it formerly had no presence in the Australian market and was largely focused on upstream solar manufacturing. It began seeking out Clean Energy Council approval for its own brand of panels in 2020, but has significantly ramped up its presence in 2023.
“Definitely the entrance of TW Solar in the market has shaken things up,” Sunwiz Managing Director Warwick Johnston told pv magazine Australia.
Despite being competitive in its pricing, it appears that TW Solar has actually carved out most of its market share from the premium side, said Johnston. Premium panel market share was previously sitting at around 20% and is now down around 10%, he noted.
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However, Tongwei are “not the only ones knocking on the doors of Australians,” Johnston said, noting a recent uptick in manufacturers expanding into the Australian market.
“So there’s super cheap panels that are coming through and everyone will have to adjust their prices accordingly,” he said.
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