The price of solar panels has plummeted to a new all-time low in Europe. It’s excellent news

A new low. The European platform Search4Solar has registered this week a new historical low in the purchase and sale Price of solar panels: 0.0055 euros per watt.

This figure not only marks the record for the lowest price for the purchase of photovoltaic modules in Europe, but also the first time that the €0.06/W threshold has been broken in the annals of the industry.

Context. Analysts attribute the price drop in Europe to a combination of global and local factors. The overproduction of solar panels in China stands out, which has led manufacturers to apply wild discounts to try to encourage demand and reduce inventories.

But also the growing competition in the European solar market, the weak demand and all the efficiency improvements that have been implemented for years in the supply chain: reduce production times, reduce logistics costs, reduce intermediaries…

Good news. 80% of the production is in China. For Europe, the price cut is the perfect opportunity to promote solar projects or self-consumption, which has slowed down due to the fall in the price of electricity.

“This price drop represents an extraordinary opportunity for companies and installers looking for sustainable energy solutions at affordable costs,” a Search4Solar spokeswoman told pv magazine.

Another point of view. The Dow Jones OPIS Price Index has also recorded a downward trend, but not as pronounced as that of Search4Solar. OPIS places the minimum price of TOPCon photovoltaic modules (high efficiency) at €0.080/W.

In this case, analysts attribute the downward trend to a liquidation of old stocks before the launch of new modules in 2025, so it is a temporary phenomenon that is also favored by the fall in demand for solar panels in Europe.

But the transition continues. The European Union’s climate goals are still there, and plans to leave fossil fuels behind require investments in renewable sources that are now more profitable due to lower prices.

No matter how long these historic low prices last, both individuals and companies will be benefiting from more affordable and profitable clean energy.

Imagen | Freepik

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