Markets & Policy

Prices rising across China’s PV supply chain, says EnergyTrend

Taiwan-based research firm EnergyTrend says market optimism in China has driven up solar module prices, while production of modules, cells, and wafers has increased month on month.
Patrick Jowett
By
Patrick Jowett
Célula solar de heterounión. | Imagen: Radiotrefoil, Wikimedia Commons

Taiwanese research institute EnergyTrend has reported that solar module prices in China are on a “consistent uptrend.”

Its latest report said tunnel oxide passivated contact (TOPCon) module prices “rebounded sharply” and were widely quoted between CNY 0.70 ($0.097)/W and CNY 0.75/W, reinforcing “bullish” market sentiment.

“Initially, manufacturers tested the waters with small price hikes of CNY 0.01 to 0.02/W,” EnergyTrend said. “But market optimism has since led to larger price increases.”

The mainstream concluded price for 182 mm bifacial TOPCon modules was reported at CNY 0.72/W, increasing to CNY 0.86/W for 210 mm bifacial heterojunction (HJT) modules.     

EnergyTrend said the price of 182 mm facial mono PERC modules at CNY 0.69/W, 210mm facial mono PERC modules at CNY 0.70/W, 182 mm bifacial glass passivated emitter and rear cell (PERC) modules at CNY 0.70/W and 210 mm bifacial glass PERC modules at CNY 0.71/W. 

On the supply side, solar module production in March reached between 55 GW and 56 GW, for a month-on-month increase between 30% and 31%. EnergyTrend said the top 10 module manufacturers contributed to around two-thirds of this growth.

Solar cell production in China rose 22% month over month in March, reaching between 54 GW and 55 GW, said EnergyTrend. Prices for all n-type cell specifications increased this week, marking the first demand-driven rise rather than a response to supply constraints.

Wafer production grew slightly to between 50 GW and 51 GW in March. Prices for 210 rectangular (RN) wafers continued to climb, reaching CNY 1.35 per piece, according to EnergyTrend. Analysts said strong installation demand is keeping cell prices supported.

Polysilicon manufacturers have been signing new orders, with more producers raising price quotes as downstream demand improves, said EnergyTrend.

The mainstream settled price for monocrystalline recharge polysilicon reached CNY 41/kg, compared to CNY 40/kg for monocrystalline dense polysilicon and CNY 38/kg for n-type polysilicon.

“With the seasonal peak for PV installations approaching and futures warehouse registrations diverting supply, polysilicon inventory is expected to decline rapidly to healthy levels. This could drive further price increases in Q2,” said EnergyTrend. “At the same time, polysilicon manufacturers are likely to maintain a disciplined production strategy, aiming to restore prices and profit margins in the second half of 2025. During this recovery phase, the stability of industry alliances will be critical.”

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: [email protected].

More about
Written by

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: [email protected].

Comments