Featured in Spotlight on cells – 10-2025

China’s balancing act

China’s downstream solar market is showing early signs of recovery, lifted by a wave of recent policy announcements and a decisive shift toward stricter regulatory enforcement. OPIS analyst Brian Ng examines the early impacts of new production and pricing controls in the upstream sector.

By

Mark Hutchins

02 Oct 2025

Following months of discussion, authorities in China have begun actively implementing production and pricing controls, which have driven sentiment higher and pushed prices to their highest levels since July of this year. Free-on board (FOB), tunnel oxide passivated contact (TOPCon) M10 cells in China rose 24% from July 1 to $0.0387/W as of Sept. 16, …

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