The solar module market has shown little movement in either direction this month. Prices have experienced only a slight downward correction, driven mainly by weakening demand in recent weeks and slightly higher supplier inventories. To boost sales, some module prices dropped selectively by €0.005/W to €0.01/W, but these reductions may reverse in July.
Only low-cost modules, including older and stockpiled items, experienced a somewhat larger percentage price correction. This reflects the overall low price level in that category, where fluctuations of €0.01/W up or down have a significant impact. Several large batches of low-priced modules entered the market recently, lowering the average index value. Limited data means individual offers can heavily influence the index.
The local inverter and storage market also saw little change. Prices have remained largely stable since the start of the year, except for occasional promotions from some manufacturers. Manufacturers manage to avoid sharp price swings by offering limited-time specials, such as bonuses, cashback, or free hardware with minimum purchases.
Once inventory normalizes, promotions end, and prices return to standard list levels, avoiding long-term price distortion. This strategy likely works better for these products than solar modules because installers tend to stay loyal to two or three manufacturers rather than switching over small price differences. Still, competitors use promotions to apply temporary pressure on each other.
Currently, the European PV market shows no clear signs of decline or growth. In Germany, new system connections dipped slightly in April compared to previous months and last year but increased again in May. June also looks strong, with rising demand and order volumes in wholesale trade. This contradicts earlier pessimistic forecasts for the market’s future.
Despite challenges from politics and global crises, the PV market seems to be developing its own micro-dynamics. The hope is that this modest upward trend continues through the summer, even as Europe enters holiday season, US trade tensions escalate, instability persists in the Middle East, and China’s market data remains mixed. The PV market often follows its own rules, so positive surprises remain possible.
Prices in May 2025, including changes from the previous month (as of June 18)
