2025 The Latest PV Market Price

Chinese market: One week after the Spring Festival, there was no significant change in silicon material prices. The overall silicon wafer market was moving towards a stable development, but there was differentiation in size. N-type G12R silicon wafers showed a downward trend in price. The transaction prices of P-type M10 and G12 silicon wafers were 1.1-1.15 and 1.7 CNY per piece, respectively.

The overall price of battery cells maintained the pre-holiday market, with an average price of 0.33 CNY per watt for P-type M10 cells and 0.29 CNY per watt for N-type M10 this week. The price of components was about 0.68-0.70 CNY per watt.

The overall average price of TOPCon components in the European market is still at the level of 0.090 US dollars per watt, and is brewing to rise to 0.1 euros/watt. The price of HJT is 0.09-0.11 US dollars per watt, and the price of PERC is about 0.065-0.08 US dollars per watt.

The price of newly delivered TOPCon modules in the US market is about US$0.2-0.27. The price in the first quarter dropped. The price of local production is between US$0.27-0.3, and the price of non-local production is between US$0.18-0.20.

Demand

European market: With the completion of the delivery of low-priced orders in the early stage, European inventory has dropped to a reasonable level. The future demand increase is expected to come mainly from large ground power stations. With the development of a new round of power station projects and the implementation of green power policies in Europe, market demand is expected to usher in a new round of growth in the next two to three years.

Emerging markets: According to JinkoSolar, the growth rate of emerging markets such as the Middle East, Latin America, and Asia-Pacific will be particularly significant in 2025. TrendForce also believes that emerging markets such as Southeast Asia, Latin America, and the Middle East will inject new impetus into the growth of global photovoltaic installations.