Will solar panel prices drop 40% this year?

Tim Buckley, director of Climate Energy Finance, speaks to pv magazine about the current steep trajectory of solar module prices. He estimates that PV panels prices will end up dropping by 40% this year and predicts the closure of old technology and sub-scale solar manufacturing facilities, both in China and globally.

Why are PV module prices falling in China?

Although raw material costs in China are slowly stabilizing again, PV module prices continue to decline, as inventory levels remain very high. For the fifth month in a row, module prices fell further by around 6% on average.

Will solar module demand increase in 2024?

Although solar growth will slow from this year due to higher base period, grid issue, and localization trend, the market outlook remains positive as module prices plummeted, with module demand projecting to see an increase of 15-20% in 2024.

When will solar module prices reach a '$10/w' threshold?

Solar module prices may approach the threshold of $0.10/W by the end of 2024 or eventually in 2025, according to Tim Buckley, director of Australia-based think tank Climate Energy Finance (CEF).

Should we invest in deflationary solar?

“At a time of massive capital investment cost blowouts, to be able to invest in deflationary solar is a massive global boon that will provide cost of living pressure relief as well as improved energy security,” he said. Overcapacity issues

Will China's solar market grow in 2028?

Still, China will account for the vast majority of the manufacturing capacity expansion to 2028, ranging from 85% for solar modules to 95% for polysilicon. The IEA described the recent growth of the country's solar market as "extraordinary," as China installed as much new photovoltaic capacity in 2023 as the entire world did in 2022.