European module prices continue to decline in December, says sun.store in latest pv.index report ByJP Casey
January 6, 2025
PV module prices dropped in Europe in December 2024, while the European PV sector remains optimistic about the industry’s long-term growth.
These are the key takeaways from sun.store’s latest pv.index report published last week, covering pricing trends and industry sentiment in the European PV sector. Compared to November 2024, module prices remained consistent or fell in December 2024. P-type monofacial modules saw the largest price decrease, falling 13% month-on-month to €0.077/Wp (US$0.080/Wp), as shown in the graph below.
P-type monofacial modules saw the greatest price decrease between November and December 2024. Image: sun.store.
While p-type monofacial modules have been the cheapest panel type per watt in Europe since August 2024, the decline in prices is notable compared to other module types. N-type monofacial modules, for instance, saw prices remain steady at €0.091/Wp, while bifacial n-type modules and full-black modules saw price declines of 5% and 2% respectively, both reaching €0.088/Wp at the end of the year.
According to sun.store, this reflects a “buyer’s market” in Europe, with the wholesaler expecting the combination of low-cost products and a high demand for solar modules to drive greater product sales in the early part of 2025.
While this is good news for buyers, concerns have been raised that the rapidly declining prices across the European solar sector have led to a severe oversupply of products. Daniel Schmitt, CEO of Bavaria-based equipment supplier Memodo, said at last year’s Intersolar event that the price collapse in Europe has become “crazy”.