German PV system prices down by over 4% since November

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From pv magazine Germany

Selfmade Energy, a German platform for price comparisons in the PV and heat pump sectors, has published a price analysis based on all product offers.

The report shows that the indicative offer prices for PV systems and battery storage systems fell by more than 4% between November 2023 and March 2024.

The platform said that prices for PV systems have been largely steady since January. For battery storage systems, offered prices rose slightly between December 2023 and February 2024, before falling by around 5 percentage points in March 2024.

Selfmade Energy is recording price declines throughout Germany. However, the severity of the price declines varies from region to region. An east-west divide can be observed. The decline was greatest in Saxony, Saxony-Anhalt and Thuringia, and smallest in Rheinhessen, Saarland, Berlin-Brandenburg and Mecklenburg-Western Pomerania.

Especially for small PV systems with 6 kW of output without battery storage, the range of offered prices is wide. In March, they were between €1.66/W and €2.10/W, for a spread of 30%.

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On average, the systems cost €1.99/W. For systems with an output of 8.5 kW, the range was €1.53/W and €1.83/W, with an average of €1.70/W. For 10 kW systems, the cheapest offer was €1.32/W and the most expensive was €1.66/W, with the average being €1.57/W.

Tim Rosengart, founder and managing director of Selfmade Energy, attributed the decline to the fall in module prices.

“The price development also indicates that consumers are reluctant to buy because they are hoping for a further price decline,” said Rosengart.

Selfmade Energy plans to publish its solar report quarterly in the future. The core elements will be a solar price index (SPINX) and a battery storage index (BSI).

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