Featured in The hunt for high efficiency – 06-2025

Non-stop solar innovation

It’s no secret that prices throughout the solar supply chain have been at rock bottom over the past 18 months. Alex Barrows and Molly Morgan of CRU Group explore how the market reached the imbalance that caused PV prices to crash, what this has meant for innovation, and how it might affect future technology transitions.

By

Mark Hutchins

11 Jun 2025

Image: pv magazine

Overproduction at levels that far outweigh end demand is unsustainable for any industry, and from 2022 to 2024, the PV industry significantly overproduced, leading to major inventory growth and backing manufacturers into a corner.At the end of 2024, CRU Group believes global module inventory may have climbed high enough to account for roughly 50% of …

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