According to pvXchange, solar module prices in August 2025 hit record lows, with high-efficiency products trading below earlier benchmarks
Weak demand and reduced government support threaten long-term solar expansion across Europe
European policy shifts toward gas and subsidy cuts threaten solar growth despite temporary demand recovery in July
Solar module prices continued to fall in August, reaching record lows across nearly all technology classes, according to online solar trading platform pvXchange, which says modules are now trading at or below January levels.
This is the case despite module efficiency standards rising by 0.5 percentage points to distinguish between conventional and high-efficiency panels.
High-efficiency mono- or bifacial heterojunction (HJT)/n-type TOPCon or XBC modules with over 23% efficiency saw their prices as of August 12, 2025, decline by 4% month-on-month (MoM) as well as since January 2025, priced at €0.12/W (see Solar Module Prices Drop 5% To 8% Amid Market Pressure).
Prices for mainstream modules with the same configuration but up to 23% efficiency dropped by 4.8% each over the same periods at €0.10/W. Full black versions with black frames and backsheets or prints were priced at €0.13/W, representing a 3.7% decline over July 2025, but there was no change compared to the beginning of the year.
Low-cost modules continue to maintain their July price of €0.055/W, having seen a 15.4% drop since January 2025.
Martin Schachinger, Managing Director and Founder of pvXchange, notes that 460 W has become standard for 2 m² modules, even as the power output of such modules in the rooftop segment now also exceeds 500 W. He cites AIKO’s upgraded INFINITE series featuring what it claims as the ‘world’s first’ 500 W solar module under 2 m2, targeting residential and C&I segments.
The emerging standard in the roofing sector is now a module with 48 or 96 half cells measuring 182 × 105 mm. It remains to be seen how long this trend continues, he points out.
As for prices, while the manufacturers are taking quick steps to end the price war with the Chinese government phasing out tax incentives and subsidized module exports, attempts to stabilize prices have failed so far.
Although solar demand briefly recovered in July, there is no clear boom. Many investors are starting projects now, as per pvXchange, fearing things won’t improve. Even at the policy front, conservative governments in Europe are cutting support for renewables, thus slowing solar growth and smart grid development. Policies favoring gas plants, partly due to pressure from the US, risk repeating past mistakes that once caused massive job losses and delayed the energy transition.
The photovoltaic sector could face tough years ahead if these policies continue. Outrage is growing within the renewable energy sector and among forward-looking business associations in other industries, warns Schachinger.
Nevertheless, Schachinger notes that polysilicon prices are rising as Asia undertakes production cuts. In Europe, pre-ordered solar modules cost more than those already in stock. Spot-market high-efficiency modules are at their lowest prices currently, so he recommends, “Buy now, because it won't get any cheaper.”
According to the TaiyangNews PV Price Index Week 33, which refers to average product prices in China, module prices for ≥595 W variants declined 1.4% week-on-week (WoW), while ≥615 W slipped 0.7% (see TaiyangNews PV Price Index – 2025 - CW33).
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