European Solar Panel Prices Surge by Over 20%, Search4Solar Reports

Solar panel prices in Europe are on the rise for the first time in months, having gone up by more than 20% according to the Netherlands-based European online solar products trading platform Search4Solar. 

Updated pricing received by the platform from 10 undisclosed manufacturers shows that the prices for TOPCon modules for European residential and commercial projects have increased by over 20%, says Search4Solar CEO Bart Wansink. 

In October 2024, prices of such panels were around €0.07 ($0.072)/W. The same are now at €0.10 ($0.10)/W. All-black solar panels are now priced at €0.12 ($0.12)/W.

For now, PERC panels continue to remain affordable as these are priced between €0.077 and €0.08 ($0.080 and $0.083)/W.

Nevertheless, PERC panels are on their way out of the market since manufacturers focus on advanced technologies like n-type TOPCon and heterojunction (HJT). Once that happens, prices for other cell technologies will further increase.

He anticipates further price hikes once China comes out of its Chinese New Year holidays this year. “Even though some suppliers are still offering solar panels at €0.08 per watt, this price is set to increase by 15% starting February 1, 2025,” he added. “Manufacturers are no longer willing to produce below cost, increasing market pressure.”

Major polysilicon producers have scaled back production, which will likely lead to a shortage of this critical material which may contribute to prices going further up, according to Search4Solar. Having said that, the platform believes the oversupply situation continues to linger in some areas of the solar market but not for long.

Nevertheless, according to the TaiyangNews PV Price Index for Calendar Week 4 of 2025, the TOPCon solar module category saw its first price decline for the year with the 182 mm variant going down 1.4% and 210 mm dropping 2.1% week-on-week (WoW) (see TaiyangNews PV Price Index – 2025 - CW4).