China module prices slide to new lows, manufacturers cut production


From pv magazine Global

The Chinese Module Marker (CMM), the OPIS benchmark assessment for mono PERC modules from China, was assessed at USD 0.123 per W, down USD 0.003/W week on week, while TOPCon module prices fell USD 0.004/W to USD 0.131/W. These new record lows come amid muted year-end demand as module makers cut production.

Prices in China have seen particular declines. While most tier-1 players – including a top 5 solar major – generally offer modules at around the CNY1 ($0.21)/W mark, some sellers lowered prices past that psychologically significant threshold. PERC modules have been offered as low as CNY0.72 ($0.15), multiple manufacturers said.

The winter season is a “weaker period of the year, hence, lower demand,” a solar market veteran said. China’s module makers are trying to clear their inventories, according to a module seller, during this off-season. Before their fiscal year closes in December, Chinese companies are attempting to sell stock and “bump up their revenues,” a different veteran said.

Operating rates are falling in this oversupplied environment. Some medium-sized solar factories are already closing for a break, according to a module maker. Factories in China usually only break during the Spring Festival, and a break now two months ahead of that holiday suggests that “factories don’t have orders,” the module maker said. Module factory operating rates are said to be 50-60%, according to an experienced market observer.

Low prices continue to be on the horizon as 2023 ends and in the year to come. 2024 will be a challenging year, according to a major solar developer. Low prices will persist for a time, with the industry gradually starting to stabilize in 2025 and then recover, the developer said.

OPIS, a Dow Jones company, provides energy prices, news, data, and analysis on gasoline, diesel, jet fuel, LPG/NGL, coal, metals, and chemicals, as well as renewable fuels and environmental commodities. It acquired pricing data assets from Singapore Solar Exchange in 2022 and now publishes the OPIS APAC Solar Weekly Report.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact:

Popular content

Path cleared for Tasmanian utility to build and partner on 300 MW projects
18 July 2024 The way has been cleared for a new generation of solar, wind and hydro projects to be developed in Tasmania with the state government lifting the legi...