European solar panel prices largely stabilized in November, signaling a maturing market following a period of significant correction. According to the latest pv.index report from sun.store, prices for common monofacial modules remained unchanged, while buyer confidence held steady for the third consecutive month. This stability suggests a more disciplined purchasing environment as the year concludes, though some minor price adjustments were observed in bifacial and back contact module categories. Analysts note that while caution persists, underlying sentiment for future purchases is showing a gradual improvement.
The report indicates that average sale prices for both passivated emitter rear contact (PERC) and tunnel oxide passivated contact (TOPCon) monofacial solar modules were static from October to November, holding at €0.077/Wp and €0.098/Wp, respectively. In contrast, bifacial TOPCon modules experienced a slight price decline from €0.094/Wp to €0.09/Wp, returning them to levels seen at the start of the year. Similarly, back contact modules saw a minor drop from €0.104/Wp to €0.101/Wp. The only category to register a price increase was full black modules, which became the market’s most expensive at an average of €0.104/Wp.
Market sentiment, measured by the PV Purchasing Managers’ Index (PV PMI), remained constant at a score of 66. A score above 50 indicates broad confidence in future market growth. Filip Kierzkowski, head of partnerships and trading at sun.store, described the situation as a “balanced, confident market” where “prices remain stable, and buyer behaviour is disciplined.” This follows a bottoming-out of the European solar module market in October, reinforcing the narrative of a market that has matured after a turbulent cycle.
Despite the stable overall confidence index, there are signs of a slow but steady uptick in buyer optimism. The percentage of buyers expecting to increase their module purchases in the coming months has risen incrementally from 45% in September to 47% in November. While this is still considerably lower than the 58% recorded in February, when the PV PMI reached an 18-month high of 73, the consistent upward trend is a notable development.
In the competitive landscape, Chinese manufacturer LONGi regained its position as the top-ranked solar panel brand, displacing Jinko. The top five module suppliers were predominantly Chinese, with the exception of Canadian Solar, which advanced from fifth to third place. The inverter market showed more geographical diversity, with Austrian firm Fronius and Germany’s SMA Solar ranking among the top five. However, Chinese technology giant Huawei secured the top spot for both hybrid and string inverters. While some inverter categories saw minor price increases in November, the year-to-date trend for all inverter types shows a significant price decline.
Looking forward, Kierzkowski anticipates a build-up of module inventories on the manufacturer side. This accumulation is expected to lead to year-end sell-offs and promotional activities, some of which are already beginning to emerge as companies seek to manage their stock levels.