Weekly Solar Industry Insights: February 24th - March 2nd, 2025
Solar Module Prices Expected to Rise Due to Industry Consolidation and Technology Shifts
Due to industry consolidation and technology shifts, solar module prices are expected to rise to $0.14-$0.15/W by late 2025. The global phase-out of outdated technologies like PERC and low-efficiency TOPCon drives insolvencies among Tier 2 and 3 manufacturers. China's production limits and shift to newer technologies like heterojunction (HJT) and back-contact are stabilizing the market, with Tier 1 module prices projected to reach at least $0.12/W.
Global Solar Module Prices Stabilize with Upward Trend
Global solar module prices have stabilized, showing slight increases in China (TOPCon 600 W up 1.19% to $0.085/W) and Europe (up 2.06% to €0.099/W) due to supply constraints. In contrast, U.S. TOPCon prices dropped by 2.87% to $0.271/W, with Mono PERC prices steady. Market predictions remain mixed, with potential price hikes from supply cuts or declines after China's tariff deadline in mid-2025.
Solar Growth Fuels Cross-Border Cannibalization and Price Volatility in Europe, Says Enervis
Europe's growing reliance on solar and wind is driving cross-border cannibalization and price volatility, according to Enervis. In 2024, electricity prices fell compared to 2023 but remained above pre-war levels due to high gas costs. Germany's PV capture rate dropped to 59%, with excess solar exported, causing negative price hours. Insufficient storage and grid flexibility are cutting revenues, and Enervis projects continued volatility as 390 GW of new renewables come online by 2030, but only 93 GW of storage capacity.
EU Unveils Clean Industrial Deal to Boost Competitiveness and Accelerate Decarbonization
The European Commission has launched the €100 billion Clean Industrial Deal to boost competitiveness and accelerate decarbonization. Key initiatives include the Industrial Decarbonization Accelerator Act, voluntary carbon intensity labels, and the Affordable Energy Action Plan to lower energy costs and enhance clean energy infrastructure. This plan aims to strengthen supply chains, reduce reliance on third-party suppliers, create jobs, and drive Europe’s green transition.
Taiwan Proposes Rooftop Solar Mandate for Large Buildings
Taiwan has proposed a regulation requiring rooftop solar on new buildings and renovations over 1,000 square meters to support its 2050 net-zero goal. The mandate requires at least 1 kW of solar per 20 square meters of first-floor area, with some exemptions. Non-compliance may result in withheld permits. Public comments are open until April 22, 2025. The government aims to install 8.2 GW of solar by 2026, maintaining feed-in tariffs for small systems.
Israel Aims to Add 100,000 Solar Rooftops by 2030
Israel's Ministry of Energy has launched the 100,000 Solar Roofs Program, aiming to install 100,000 solar rooftop arrays by 2030, adding 1.6 GW of capacity. The initiative offers tariff routes, tax relief, and fast-tracked grid connections to boost installations. It also includes a mapping tool for residents to calculate savings. A 15 kW rooftop system could earn ILS 13,000 ($3,637) annually. This program supports Israel’s goal to generate 30% of its electricity from renewable sources by 2030.
India Needs $300 Billion by 2032 to Meet Renewable Energy Targets
India needs $300 billion by 2032 to meet its 596 GW renewable energy target, according to the 14th National Electricity Plan. Annual funding for renewable energy, storage, and transmission must grow by 20% yearly, from $13.3 billion in 2024 to $68 billion by 2032. The targets include 365 GW of solar, 122 GW of wind, and 47 GW of battery storage. Financial risks like project delays could increase costs and lead to a shortfall of 100 GW, making risk management crucial to achieving the 500 GW target.
India Achieves Record Solar Capacity Additions in 2024 with 25.2 GW
India added a record 25.2 GW of solar power capacity in 2024, a 204% increase from the 8.3 GW added in 2023, Mercom India's Solar Market updated. Large-scale solar projects contributed 87%, with rooftop solar making up 13%. Rajasthan, Gujarat, and Maharashtra led the installations. Despite this growth, the sector faced transmission issues and rising module costs due to import duties. Solar power accounted for 73% of India’s total 34.7 GW of new power capacity additions in 2024.
Information Source: PV Magazine
