Solar module prices show mixed movements with no clear trend across technologies and efficiency classes, according to pvXchange
Market focus is shifting toward medium and large-scale PV projects using high-efficiency modules
China’s removal of export tax relief may raise export prices by around 9%
Policy uncertainty and possible subsidy redirection in Germany could slow small-scale solar growth
Solar module prices have fluctuated over the past 2 months, with no clear trend emerging across different technologies, observes Martin Schachinger, the managing director and founder of pvXchange. While small-scale sales decline, efficient modules for larger PV projects remain in demand amid price competition.
The industry focus is moving toward medium and large-scale plants, as per the online solar trading platform from Germany, that prefer high-efficiency modules. This segment is also prone to strong competition and price pressure. Since small-scale solar segment is on the downhill, so is the sale of full-black modules.
Prices for high efficiency panels with mono or bifacial HJT , n-type TOPCon or xBC configuration and efficiency of over 23% were priced at €0.115/W as of October 12, 2025, registering no change since September 2025, but saw the price decline of 8% since January this year.
Full black variants, with the same configurations, saw their price go up by 4% since last month, but no change since the beginning of the year, setting around €0.13/W.
Mainstream modules with up to 23% efficiencies cost €0.10/W with no change since September 2025, but 4.8% drop since January 2025.
The price of low-cost modules (read stock lasts, factory seconds, insolvency goods, already used or low-output modules and those with little or no warranty) declined by 8.3% month-on-month (MoM), and by 15.4% since January 2025.
Schachinger sees demand cooling in 2026 due to uncertainty in energy policy and changing market dynamics due to the ‘disappearance of previous business models and investment opportunities’. However, China’s decision to abolish export subsidies in the form of tax relief could drive export prices up by around 9%, provided the Chinese producers pass on the increase to their customers.
“Chinese module manufacturers will need to do this, because market prices in Europe have long since reached the pain threshold. Long-term supply contracts already contain clauses that reflect an expected cost increase. Asian inverter and energy storage manufacturers will also be affected, but cost pressure is not as high here. It is possible many manufacturers will swallow the increase in export costs or have already priced it in,” he adds.
Schachinger also worries about the general approach towards climate change and energy transition as some countries now prefer to follow the ‘American way of life’ while pointing at the US government’s u-turn under Trump administration. Governments now cite urgent economic recovery to continue supporting the old energy industry while ignoring the success of renewable energy in recent years—a sentiment that might impact German political discourse as well in the near future.
In Germany, he notes, there are talks about ending feed-in-tariffs (FIT) for small-scale solar systems and moving towards a capacity market that favors conventional large-scale power plants over decentralized energy producers (see Germany Releases Energy Transition Monitoring Report).
There are also concerns that funds from the Climate Protection and Transformation Fund may be redirected toward gas and carbon capture and storage (CCS) projects, potentially undermining genuine climate goals in Europe’s largest economy.