Each year, approximately 44,000 mothers and newborns rely on an uninterrupted power supply to receive life-saving medical care in the neonatal intensive care unit. Reliable power saves lives. To ensure this, the RePower Ukraine Foundation has installed a solar power station on the unit’s rooftop.
Beyond energy independence, the solar power station positively impacts the environment. It reduces the hospital’s dependence on fossil fuels and lowers carbon emissions. Over the course of a year, it can save approximately 20.64 tons of greenhouse gases — a significant contribution to a sustainable future.
33 kW/30kWh solar storage system
Technical Specifications of the Solar Power Station: ● Type: Hybrid / Rooftop ● Solar Panel Capacity: 33 kW ● Battery Storage Capacity: 30 kWh ● Expected Annual Electricity Generation: 29,480 kWh ● Expected Annual Reduction of Greenhouse Gas Emissions: 20.64 tons
“We are immensely grateful to our partners Menlo Electric, sun.store, Sungrow and JinkoSolar for providing high-quality equipment — solarsolar panels, battery storage, and inverters. Thanks to their professional and prompt support, it was possible to implement such a comprehensive and crucial project. A special thanks to GIZ for their strategic support and funding of this initiative, which helped equip the hospital with a reliable energy source. By investing in the health of mothers and children, we are investing in the future of our country,” said Svitlana Vovchenko, Director of the RePower Ukraine Charitable Foundation.
Фото
Inverter and battery storage sytem in neonatal intensive care unit of the Kyiv Regional Perinatal Center. On the left , Yaroslav Dobryanskyi Acting Chairman of the Kyiv Regional Council, on the right Vitaliy Sydorenko, Acting Director of the Department of Health Kyiv Regional State Administration.
“This project is, above all, about safety. We handle both complex and extremely complex childbirth cases. Our personal record is a newborn weighing just 450 grams. We managed to save the baby, and it survived. However, nowadays, approximately 70% of births involve complications. That is why we rely on a stable power supply—so that during outages, we can focus entirely on the mother and newborn instead of searching for light,” shared Oleksandr Kachur, General Director of the Kyiv Regional Perinatal Center, Doctor of Medical Sciences, and Honored Doctor of Ukraine.
“We are confident that this project will serve as an example for other medical institutions and inspire broader adoption of green technologies in Ukraine”, he added. “The RePower Ukraine Foundation expresses its gratitude to all those who contributed to the project: our partners, donors, and the staff of the perinatal center. Together, we are creating a better future for our children”, Vovchenko said.
Several supporters – project led by RePower Ukraine Foundation
The initiative was made possible with the support of GIZ and the companies Menlo Electric, sun.store, Sungrow and JinkoSolar. The project is led by the RePower Ukraine Foundation in collaboration with other civil society organizations as part of the “Renewable Energy for a Resilient Ukraine”.
The project “Renewables for Resilient Ukraine” (R2U) is commissioned by the Federal Ministry for Economic Affairs and Climate Action of Germany (BMWK) with the support of the International Climate Initiative (IKI) in Ukraine and is implemented by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH. (hcn)
After January’s signs of stabilization, February saw selective price adjustments. While some module categories — like monofacial N-type and P-type — experienced declines due to competitive pressures on popular brands, others, such as bifacial N-type and full black modules, recorded notable upticks. This divergence reflects a market balancing act between oversupply in certain segments and tightening availability in others.
Meanwhile, inverter prices continued to soften across both hybrid and on-grid categories, suggesting ongoing competition and stock normalization among suppliers. Despite these fluctuations, the strong PMI score indicates that buyers are undeterred, focusing on strategic procurement and premium technologies to meet rising demand.
The PV Purchasing Managers’ Index (PMI) remains an essential measure for assessing market sentiment and demand trends in the European solar industry. This index, derived from the purchasing intentions of over 600 users, selected from a pool of more than 24,000 registered on sun.store, offers a detailed snapshot of the market’s current condition and future direction. By gathering insights from a diverse group of installers, distributors, and other industry players, the PV PMI highlights shifting purchasing patterns, helping to track key developments in solar procurement across Europe.
sun.store
The PV Purchasing Managers’ Index (PMI) rose in February
PV PMI: Buyer confidence peaks at 73
February’s PV PMI reached 73, the highest level in recent months, underscoring a bullish outlook among solar industry stakeholders. Based on responses from 630 buyers out of over 24,000 registered users on the sun.store platform, the survey revealed:
● 58% of respondents plan to increase purchases, reflecting proactive stockpiling ahead of spring projects.
● 30% intend to maintain current order volumes, ensuring steady market activity.
● 12% anticipate a reduction in orders, a consistent minority reflecting lingering caution.
This PMI score, calculated as PMI = (P1 * 1) + (P2 * 0.5) + (P3 * 0) — where P1 is the percentage reporting improvement, P2 no change, and P3 deterioration — highlights a market poised for expansion. Key drivers include:
Stabilizing supply and selective price drops
While some module prices dipped (e.g., monofacial N-type and P-type), reflecting competitive pricing from brands like JA Solar and AIKO, others rose due to tightening stock levels. This mixed trend has encouraged buyers to secure inventory early, anticipating potential supply constraints later in the year.
Preparation for peak season
With spring installation season approaching, the high PMI score suggests buyers are locking in orders now to avoid delays or price hikes. The focus on premium technologies, such as bifacial and full black modules, further supports this strategic shift.
Robust market sentiment
The PMI jump from 71 in January to 73 in February signals growing trust in market stability. Buyers appear less focused on chasing the lowest prices and more on securing reliable supply chains and high-performance components.
Expert commentary: The market in transition
Filip Kierzkowski, Head of Partnerships and Trading at sun.store, commented: “February’s data shows the market finding its rhythm. The PMI of 73 reflects confidence that goes beyond short-term price movements. Buyers are prioritizing availability, especially on premium models, as they prepare for a busy Q2. The slight dip in some module prices hasn’t slowed activity—it’s actually spurred strategic buying. This heightened interest in modules may also stem from news of legislative changes in China, where recent pricing reforms for grid-connected renewable power are redirecting production to meet local demand. As a result, this shift could significantly impact delivery schedules to the EU in the coming months.”
Michał Kabała, Business Consultant added: “Limited availability of affordable, mainstream products has shifted buyer preference toward higher-quality, premium options offering better value. For example, Aiko modules saw a 16% price drop from January to February 2025, while Jinko prices rose by 3%.”
Module prices: a tale of two trends
February’s module pricing revealed a split narrative, with declines in monofacial categories and gains in bifacial and full black segments:
Monofacial modules:
N-type: Prices fell to €0.100/Wp (-2%), driven by competitive pricing on popular models from JA Solar and AIKO. Despite the drop, demand remained strong, supported by the shift toward high-efficiency options.
P-type: Prices declined to €0.078/Wp (-6%), reflecting softening demand for standard modules as buyers pivot to premium alternatives and stock levels normalize.
Bifacial modules:
N-type: Prices rose to €0.094/Wp (+4%), signaling robust demand for bifacial technology in large-scale projects. Tightening availability contributed to the uptick.
P-type: Insufficient sample size to establish trends.
Full black modules:
Prices increased to €0.096/Wp (+7%), driven by limited stock and strong demand for aesthetic, high-value installations. Sellers capitalized on this trend, pushing prices upward. This mixed performance suggests a market transitioning from blanket price declines to a more nuanced balance, with premium technologies gaining traction.
sun.store
Module pricing revealed declines in monofacial categories and gains in bifacial and full black segments in February.
Inverter pricing: softening across the board
Inverter prices continued their downward trajectory in February, reflecting competitive pressures and ample supply:
Hybrid inverters:
<15kW: prices eased to €121.27/kW, marking a decline of 2% from January. This subtle drop was fueled by steady demand in the residential sector, where homeowners and small installers remain active, yet suppliers ramped up competition to capture this consistent market share. The result? A slight price adjustment downward as brands vie for dominance in this popular category.
>15kW: larger hybrid inverters saw prices slip to €88.55/kW, a modest decrease of 1%. This gentle softening hints at a cooling in orders for bigger hybrid systems, possibly as buyers shift focus toward on-grid solutions or pause to reassess needs ahead of peak installation months. Even so, the change is small, suggesting this segment remains stable but not immune to broader competitive pressures.
sun.store
Inverter prices continued their downward trajectory in February.
On-grid inverters:
<15kW: smaller systems saw prices fall to €55.64/kW, a reduction of 2% from the previous month. This decline reflects a market flush with stable stock levels, where manufacturers and distributors are feeling the heat of ongoing price pressure. With supply readily available, buyers in this segment—often tied to residential and small commercial projects—benefit from suppliers’ efforts to stay competitive.
>15kW: larger on-grid inverters experienced a slightly steeper drop, landing at €24.95/kW after a 3% decrease. This more pronounced shift points to a competitive push among suppliers catering to utility-scale and commercial installations. As these players jostle for position in a segment with steady but price-sensitive demand, the lower prices suggest an effort to clear inventory or attract bulk orders as Q1 progresses.
Brand preferences: LONGI, Sungrow and Huawei lead
February’s transaction data highlighted shifting brand preferences:
Modules: LONGI emerged as the top choice, overtaking Jinko Solar, thanks to its competitive pricing and reliability in both monofacial and bifacial categories.
Inverters:<15kW: Sungrow took the lead, reinforcing its dominance in residential and small commercial systems.
>15kW: Huawei surged ahead, favored for its performance in larger installations.
These preferences underscore buyers’ focus on trusted brands delivering value and efficiency amid evolving market conditions.
Outlook for the coming months
With a PMI of 73 and demand for premium modules on the rise, the European solar market is entering spring with momentum. While selective price drops persist, the increases in bifacial and full black categories — coupled with tightening stock — suggest a shift toward a more balanced supply-demand dynamic.The next few months will test whether this confidence translates into sustained growth, but February’s data paints an optimistic picture. Buyers are acting decisively, and the market appears well-positioned for an active 2025.
About – pv.index & The PV Purchasing Managers’ Index (PV PMI)
pv.index tracks monthly trading prices for solar components, based on data from sun.store, Europe’s largest online PV trading platform with over 8.9 GW of components available. Prices are weighted by transaction power to provide a reliable market estimate.The PV PMI gauges demand sentiment in the PV industry, with scores above 50 indicating expansion. It’s calculated from a sample of 630+ sun.store buyers, offering a snapshot of purchasing intentions across Europe.The PV PMI was calculated as: PMI = (P1 * 1) + (P2 * 0.5) + (P3 * 0), where: P1 = percentage of answers reporting an improvement, P2 = percentage of answers reporting no change, P3 = percentage of answers reporting a deterioration. Survey is based on a sample of 900+ sun.store buyers. (hcn)
Several factors contributed to this change. Stock levels for popular models in Europe have tightened, allowing those still holding inventory to raise prices slightly. Additionally, Chinese manufacturers increased prices by a few percent in December, driven by tax incentive adjustments affecting new production. Although these changes primarily impact newly manufactured modules, some distributors in Europe took advantage of the news to lift prices on existing stock. Alongside these price adjustments, the market sentiment remained strong, with the PV PMI rising to 71, reflecting growing confidence among buyers and a more balanced supply-demand dynamic.
The PV Purchasing Managers’ Index (PMI) continues to be a vital tool for gauging market sentiment and demand patterns in the European solar sector. This indicator, based on purchasing intentions gathered from a sample of more than 900 users out of more than 22,700 registered on the sun.store platform, offers a comprehensive view of the industry’s current state and anticipated trajectory. By capturing input from a diverse range of participants—including installers, distributors, and other stakeholders—the PV PMI provides detailed insights into evolving purchasing behaviors across Europe.
PV PMI: Confidence returns as buyers prepare for 2025
January’s PV PMI score of 71 marks a notable improvement from previous months, reflecting growing confidence among buyers and a potential shift in market dynamics. This is the highest PMI reading in recent months, indicating that businesses are beginning to look beyond short-term price drops and prepare for an active first quarter of 2025.
Survey results from 932 respondents highlight a clear increase in purchasing intentions: ● 54% of buyers plan to increase their purchases, suggesting stronger demand and strategic stockpiling for upcoming projects. ● 34% intend to maintain current order volumes, ensuring a stable baseline of market activity. ● Only 12% foresee a reduction in orders, signaling that downward pressures on demand may be easing.
sun.store
The PV Purchasing Managers’ Index (PMI) rose significantly in January 2025.
This rise in PMI can be attributed to several key factors:
Stabilizing prices & strategic procurement
After months of steady declines, module prices began to rebound in late January, leading to increased activity from buyers looking to secure inventory before further price adjustments. With stock tightening on popular models, many saw this as an opportunity to lock in competitive prices before potential further shifts.
Market adjustments in China & distributor reactions
China’s recent changes to tax incentives for solar manufacturers led to a slight price increase in newly produced modules, which, in turn, influenced distributor behavior in Europe. While these changes primarily affect new production, some European distributors raised prices on existing stock, further reinforcing the sense of a market-wide stabilization.
Planning for peak installation season
The beginning of the year is a critical time for procurement as businesses prepare for the spring and summer installation season. The increased PMI score suggests that buyers are moving early to secure stock, rather than waiting for further price drops that may no longer materialize at the same pace as in late 2024.
Premium technology driving demand
Another significant trend seen in January was the increased preference for high-efficiency modules. The rise in N-type panel prices—driven by a greater share of transactions in this segment—confirms that buyers are shifting from purely price-driven decisions to a stronger focus on performance and long-term value.
Expert commentary: What this means for the market
According to Filip Kierzkowski, Head of Partnerships and Trading at sun.store: “We are seeing a clear shift in buyer sentiment. The rising PMI score confirms that businesses are approaching 2025 with a more strategic mindset. The slowdown in price declines—combined with tightening stock on key models—has led to renewed purchasing activity. Many buyers recognize that waiting too long may not yield further price advantages, especially as we head into the busier installation season.”
Victor Cantareli, Head of Key Accounts – Europe, adds: “January was a slow burner with industry players already sitting on stock prior to the winter break. The month ended on a high both on volume traded and with prices creeping a little higher than they have been. February will be the benchmark for Q1 2025, as we leave Chinease New Year behind we expect a lot more activity but one thing is certain the super low prices are not here to stay just yet!”
Outlook for the coming months
With PMI rising and demand shifting toward premium modules, the market appears to be entering a more balanced phase. While further price adjustments remain possible, the strong start to the year suggests that the market is stabilizing—a stark contrast to the persistent price erosion seen throughout much of 2024. The coming months will be critical in determining whether this renewed confidence translates into sustained growth, but for now, the data suggests a market that is regaining its footing and preparing for an active 2025.
Module prices: Rebounding after months of decline
January saw price increases across all module categories, signalling the first broad uptick in months. The combination of tightening stock and strategic price adjustments from distributors has driven prices slightly upward.
Monofacial modules:
N-type: Prices increased to €0.102/Wp (+12%), reflecting a shift towards higher-efficiency modules. This rise was driven by a higher volume of transactions involving premium panels, as buyers prioritised performance over purely cost-driven decisions.
P-type: Prices climbed to €0.083/Wp (+8%), marking a notable reversal after the steady declines of late 2024. This increase suggests that the downward pressure on standard module prices may be easing as stock levels for lower-cost alternatives gradually tighten.
sun.store
All solar module prices increased in January 2025, but those of high-efficiency modules rose the most.
Bifacial modules:
N-type: Prices edged up to €0.090/Wp (+2%), indicating continued demand for bifacial technology. The modest increase aligns with market trends favouring higher-efficiency solutions for large-scale projects.
P-type: Insufficient sample size to establish trends for this category.
Full black modules:
Prices rose slightly to €0.090/Wp (+2%), with limited stock availability contributing to the adjustment. As these panels remain a preferred choice for aesthetic and premium installations, sellers capitalised on demand by moderately increasing prices
This overall price shift marks a departure from the prolonged declines seen throughout 2024, suggesting that the market may be finding a new pricing balance as demand stabilises and strategic procurement decisions drive transactions.
Inverter pricing: Market split between hybrid and on-grid segment
While module prices rose, inverter pricing showed mixed trends:
Hybrid Inverters:
<15kW: Prices rose by 5% to €123.97/kW, driven by strong demand for smaller hybrid systems.
>15kW: Prices declined by 5%, settling at €89.47/kW. This drop suggests growing competition among suppliers, as well as a possible shift in purchasing patterns, with fewer bulk orders for larger hybrid systems.
On-grid Inverters
<15kW: Prices decreased slightly by 2% to €56.82/kW, indicating stable yet competitive market conditions. The downward adjustment may be linked to ongoing price pressure from manufacturers and wider availability of stock in this category.
>15kW: Prices increased marginally by 1%, reaching €25.68/kW. Despite a relatively stable demand for large-scale on-grid systems, this slight price uptick suggests that the segment remains resilient, with some distributors adjusting prices based on availability and market positioning
sun.store
The price of hybrid inverters increases, on-grid inverters got cheaper in January 2025.
Brand preferences: Jinko and Solis dominate
January’s market data, highlighted consistent brand preferences, with Jinko Solar emerging as the top choice for solar modules, reflecting its strong reputation for reliability and performance. In the inverter segment, Solis remained the preferred brand for systems under 15kW, maintaining its dominance in the residential and small commercial markets. Meanwhile, Sungrow led the >15kW category, reinforcing its position as a go-to brand for larger installations. These preferences indicate buyers continue to prioritise proven brands with strong performance records, even as pricing dynamics evolve.
Looking ahead: A more balanced market in early 2025?
With prices rebounding and buyer confidence strengthening, the market is entering a new phase of stabilisation. While it’s too early to call a full trend reversal, the slowing pace of price declines and renewed demand for premium products suggest a more balanced dynamic between supply and demand.
With distributors adjusting pricing strategies and supply constraints emerging on key models, the next few months will be crucial in shaping 2025’s trajectory. One thing is clear—buyers are acting more confidently, and the European solar market is starting the year on a stronger footing.
About – pv.index & The PV Purchasing Managers’ Index (PV PMI)
pv.index traces current trading prices for solar components on a monthly basis. Data is recorded on sun.store, the biggest online PV trading platform with 7.8 GW+ of components on offer. Trading prices are weighted by the power of components involved in the transactions to arrive at a reliable estimate for the whole market.
The PV Purchasing Managers’ Index (PV PMI) indicates the overall sentiment towards the demand in the PV industry. PV PMI shows whether demand is expected to expand (above 50), remain stable, or contract (below 50), as perceived by purchasing managers.
The PV PMI was calculated as: PMI = (P1 * 1) + (P2 * 0.5) + (P3 * 0), where: P1 = percentage of answers reporting an improvement, P2 = percentage of answers reporting no change, P3 = percentage of answers reporting a deterioration. Survey is based on a sample of 900+ sun.store buyers. (hcn)
The PV Purchasing Managers’ Index (PMI) continues to be a vital tool for gauging market sentiment and demand patterns in the European solar sector. This indicator, based on purchasing intentions gathered from a sample of nearly 600 users out of more than 20,000 registered on the sun.store platform, offers a comprehensive view of the industry’s current state and anticipated trajectory. By capturing input from a diverse range of participants—including installers, distributors, and other stakeholders—the PV PMI provides detailed insights into evolving purchasing behaviors across Europe.
Market sentiment: adjusting to seasonal trends
The PV PMI for December registered at 67, reflecting a slight decline from November’s 68. While the drop may appear minor, it highlights the seasonal adjustments that often characterize the solar industry during the year-end period. Factors such as holiday schedules, slowed installation activity due to winter conditions, and strategic procurement decisions all contributed to this slight shift. Despite these challenges, the market has demonstrated remarkable stability and resilience.
Buyers remain optimistic, with 50% of respondents planning to increase purchases—a testament to the growing confidence in the industry despite external pressures. Meanwhile, 34% intended to maintain their current purchasing levels, suggesting that a significant portion of the market is holding steady, likely awaiting new projects and regulatory developments in the coming year. Only 16% of buyers anticipated reducing their orders, underscoring the ongoing demand for high-quality solar components even during traditionally slower months.
sun.store
The PV Purchasing Managers’ Index (PMI) felt slightly in December.
This balanced sentiment reflects a broader trend of strategic planning within the industry. As procurement activities adapt to seasonal dynamics, buyers are leveraging competitive pricing and preparing for an active start to 2025. December’s PMI results serve as a strong indicator that the European solar market continues to thrive, supported by consistent demand and forward-looking purchasing strategies.
Filip Kierzkowski, Head of Partnerships and Trading at sun.store, commented: “The slight decline in PMI is expected during the holiday season. However, the consistent level of demand underscores the strength of Europe’s solar market. December’s activity indicates that buyers are strategically preparing for a robust start to 2025 by capitalizing on competitive year-end deals and securing high-quality components.”
Panel prices: marked declines across categories
December continued the trend of falling solar panel prices, driven by intense market competition and year-end stock clearance efforts by suppliers. These price adjustments, while expected during this period, underscore the ongoing oversupply challenges within the European solar market. Buyers have taken advantage of these reduced costs to secure high-quality components at attractive rates, positioning themselves for upcoming projects in 2025.
sun.store
Monofacial P-type solar modules prices felt sharply again in December.
Monofacial modules: N-type: Prices remained steady at €0.091/Wp, reflecting a plateau in this category. This stability may indicate that the market has found a temporary equilibrium, especially for high-efficiency panels that continue to attract consistent demand.
P-type: Prices dropped significantly to €0.077/Wp, marking a notable 13% decline compared to November. This steep reduction highlights efforts by manufacturers to move older stock and remain competitive, particularly in the face of shifting buyer preferences toward advanced technologies.
Bifacial modules:
N-type: Prices declined by 5% to €0.088/Wp, as oversupply in this segment pushed prices downward. This category, often sought after for its dual-sided energy generation capabilities, continues to see pricing pressures from increased production and market saturation.
P-type: Insufficient sample size to establish trends for this category.
Full black modules:
Prices experienced a 2% decline, settling at €0.088/Wp. This modest reduction reflects both seasonal dynamics and the sustained interest in aesthetically pleasing panels, often favored for residential and premium projects. The persistent price reductions across most panel categories indicate a buyer’s market, where competitive pricing remains a key driver of purchasing decisions. These lower price points not only enhance the accessibility of solar technology but also pave the way for a strong start to 2025, as buyers stock up on affordable, high-quality components for new installations.
Inverter prices in December exhibited diverse patterns, shaped by evolving purchasing strategies and shifting buyer preferences. These movements reflect the nuanced dynamics of the solar market as the year drew to a close, with procurement choices heavily influenced by project needs and inventory availability.
sun.store
Prices for hybrid inverters >15kW increased in December, all other categories felt.
Hybrid Inverters: <15kW: Prices fell by 7%, landing at €118.19/kW. This decline can be attributed to year-end inventory adjustments, as suppliers aimed to clear stock before the start of 2025. The demand for smaller hybrid inverters remained consistent, primarily driven by residential installations and smaller commercial projects.
>15kW: Prices increased by 12%, reaching €94.56/kW. This rise reflects a shift in purchasing patterns in December, with buyers focusing on mid-range systems in the 20–25kW range. The lack of bulk purchases for larger capacities, such as 50kW units, pushed the average price higher.
On-grid Inverters:
<15kW: Prices declined by 8%, settling at €57.71/kW. This drop indicates a continued adjustment in the residential segment, where competition remains fierce, and suppliers are eager to position themselves competitively for 2025.
>15kW: Prices experienced a modest 3% decline, falling to €25.45/kW. The relatively stable demand for larger on-grid systems reflects the sustained interest in utility-scale and large commercial installations, albeit with a cautious approach to year-end procurement.
Brand preferences: Jinko and Solis dominate
In December, JA Solar led the panel market, favored for its reliability and efficiency. For inverters, Sungrow dominated the <15kW segment, while Huawei secured the top spot for >15kW systems, reflecting strong demand for high-performance solutions across diverse projects.
Reflections on 2024 and outlook for 2025
As 2024 draws to a close, sun.store celebrates another milestone year, with steady demand and significant growth across European markets. The platform now boasts over 20,000 registered users, over 600 MW of components were traded in 2024, showcasing the accelerating adoption of solar technologies across the continent.
Agata Krawiec-Rokita, Co-founder and CEO of sun.store, shared her perspective on the year and future trends: “2024 was a year of resilience and adaptation for the European solar market. Despite economic uncertainties and seasonal fluctuations, the industry continued to grow, supported by increasing demand for renewable energy and technological advancements. Looking ahead to 2025, we anticipate a greater focus on energy storage solutions and hybrid systems as installers and buyers seek more integrated and efficient solar setups. Our goal at sun.store is to remain at the forefront, providing unmatched access to high-quality components and insights to empower the industry.“
„As we step into 2025, the European solar market is poised for further growth. Regulatory support for renewables, alongside continued price competitiveness, sets the stage for another transformative year. With evolving buyer preferences and increasing demand for integrated systems, sun.store remains committed to leading the industry with its innovative marketplace solutions and data-driven insights“, Agata Krawiec-Rokita said.
About – pv.index & The PV Purchasing Managers’ Index (PV PMI)
PV Index traces current trading prices for solar components on a monthly basis. Data is recorded on sun.store, a online PV trading platform with 7.8 GW+ of components on offer. Trading prices are weighted by the power of components involved in the transactions to arrive at a reliable estimate for the whole market.
The PV Purchasing Managers’ Index (PV PMI) is a measure indicating the overall sentiment towards the demand in the PV industry. PV PMI shows whether demand is expected to expand (above 50), remain stable, or contract (below 50), as perceived by purchasing managers.
The PV PMI was calculated as: PMI = (P1 * 1) + (P2 * 0.5) + (P3 * 0), where: P1 = percentage of answers reporting an improvement, P2 = percentage of answers reporting no change, P3 = percentage of answers reporting a deterioration. Survey is based on a sample of 800+ sun.store buyers. (hcn)
The PV Purchasing Managers’ Index (PMI) remains a cornerstone for understanding market sentiment and demand trends in the European solar industry. This metric, derived from the purchasing intentions of over 20,000 registered users on the sun.store platform, serves as a valuable barometer of the industry’s health and future direction. With consistent participation from a diverse network of buyers—spanning installers, distributors, and many others—the PV PMI captures the nuanced shifts in purchasing behavior across the continent.
Sustained demand in a challenging market
In November, the PMI held steady at 68, maintaining the same level as in October. While this stability suggests resilience in demand, it also reflects a market that is cautiously navigating seasonal transitions and broader economic uncertainties. Buyers appear to be adjusting their strategies as the year-end approaches, with 51% planning to increase their purchases, a slight uptick from 50% last month. Meanwhile, 35% intend to maintain their current buying levels, and only 14% anticipate reducing their orders.
sun.store
The Purchase Managers‘ Index in November 2024 was stable.
This balance indicates that the European solar market continues to demonstrate robust confidence, even in the face of declining prices. The steady PMI underscores the ongoing commitment of buyers to secure high-quality components, leveraging favorable pricing trends to optimize their procurement strategies. As seasonal factors influence installation timelines and stock replenishment, the consistent PMI provides a reassuring signal that demand for solar solutions remains strong as the industry gears up for the coming year.
Filip Kierzkowski, Head of Partnerships & Trading, shared his perspective: “This steady PMI demonstrates the resilience of the European solar market, even as we enter the traditionally slower months. It’s encouraging to see consistent interest in high-quality components, despite external challenges.”
sun.store
Development of PV panel prices since January 2024.
Key price trends for November: panels
Monofacial modules:
N-type: Prices fell by 7% to €0.091/Wp from €0.098/Wp in October. This decline reflects ongoing efforts by sellers to clear inventories ahead of year-end.
P-type: A more modest 2% drop brought prices to €0.088/Wp, down from €0.090/Wp, indicating relative stability in this category.
Bifacial modules:
N-type: Prices saw a significant 10% decline, reaching €0.093/Wp from €0.103/Wp, driven by intensified competition and surplus stock.
P-type: Insufficient sample size to establish trends for this category.
Full black modules:
Prices dropped by 9%, landing at €0.090/Wp, down from €0.099/Wp in October. The continued price decline highlights sustained oversupply and heightened competition among suppliers
Inverter pricing: mixed movements
Hybrid inverters showing both increases and decreases depending on capacity, while on-grid inverters generally experienced declines across the board.
Hybrid Inverters:
<15kW: Prices rose by 7% to €127.18/kW, up from €119.25/kW in October. This uptick reflects increased demand for advanced residential solutions, particularly premium brands like Huawei.
15+ kW: Prices fell by 7% to €84.32/kW, down from €90.69/kW. Larger systems faced slower demand due to a shift in buyer focus toward smaller, more flexible installations.
On-grid Inverters:
<15kW: Prices dropped by 8%, reaching €62.45/kW compared to €67.85/kW in October. This decline is attributed to weaker residential demand as seasonal factors take hold.
15+ kW: Prices dipped by 3% to €26.24/kW, down from €27.11/kW, signaling stabilized demand in larger-scale projects.
Krzysztof Rejek, Head of Business Development at sun.store, offered insights into the trends: “The downward pricing trend persisted in November, with all segments hitting new lows—some module offers even nearing €0.05/Wp. Distributors continue their stock liquidation strategies, driven by end-of-year warehouse clearance efforts.“
„Looking ahead to December, we anticipate a slight uptick in prices due to China’s limited production capacity and a reduction in export tax rebates for modules. However, the availability of discounted stock from distressed distributors is likely to keep the overall average prices at competitive levels“, Krzysztof Rejek stresses.
Brand preferences: Jinko and Solis dominate
Jinko Solar continued to lead across all panel categories—maintaining its position as the top choice among sun.store users. For inverters, Solis remained the preferred brand for systems under 15kW, while Huawei held its dominance in the 15+ kW category, reflecting their strong reputation for reliability and performance in larger installations.
In summary
The November pv.index paints a clear picture of a market marked by steady demand and competitive pricing. Panel prices continue to trend downward, while inverter categories present a mixed bag of price changes influenced by evolving buyer preferences and year-end dynamics.
About – pv.index & The PV Purchasing Managers’ Index (PV PMI)
pv.index traces current trading prices for solar components on a monthly basis. Data is recorded on sun.store, a leading online PV trading platform with 7.8 GW+ of components on offer and more than 20,000 registered users. Trading prices are weighted by the power of components involved in the transactions to arrive at a reliable estimate for the whole market.
The PV Purchasing Managers’ Index (PV PMI) is a measure indicating the overall sentiment towards the demand in the PV industry. PV PMI shows whether demand is expected to expand (above 50), remain stable, or contract (below 50), as perceived by purchasing managers.
The PV PMI was calculated as: PMI = (P1 * 1) + (P2 * 0.5) + (P3 * 0), where: P1 = percentage of answers reporting an improvement, P2 = percentage of answers reporting no change, P3 = percentage of answers reporting a deterioration. Survey is based on a sample of 800+ sun.store buyers. (hcn)
In October, the PV Purchasing Managers’ Index (PMI) slightly declined, settling back to 68, which matches the level from August. This decrease comes after a brief uptick in September, indicating a cautious approach as the industry moves towards year-end. Buyers are adjusting their purchasing plans with the season’s end in sight, yet confidence remains relatively stable, with 50% of respondents planning to increase their orders, 37% intending to maintain current levels, and only 13% anticipating a reduction. This steady demand outlook suggests that, despite price fluctuations, optimism persists across Europe’s solar market.
This confidence reflects resilience in the European PV market, even as the sector contends with seasonal and economic factors. As noted by Krzysztof Rejek, Head of Business Development at sun.store: „The stable PMI at 68 shows that the demand for solar components remains strong, yet slighltly decreasing versus previous months. Seasonal factors, coupled with a reduction in installation activities as winter approaches, have influenced purchasing behavior. However, the industry is still vibrant, and we’re seeing a steady demand for high-quality components.“
sun.store
The PV Purchasing Managers’ Index (PMI) slightly declined in October 2024.
Panel and inverter pricing
Panel prices show mixed trends
October continued the downward price trend across most PV panel categories. Notably:
Monofacial modules:
N-type: prices fell by 15%, landing at €0.098/Wp, down from last month’s €0.105/Wp, as oversupply persists.
P-type: prices for P-type modules showed a modest decrease of 1%, now at €0.090/Wp, compared to €0.091/Wp in September, suggesting relative price stability in this segment.
Bifacial modules:
N-type: modules saw a notable 10% drop, reaching €0.103/Wp, down from €0.114/Wp in September, indicative of competitive pressures and market saturation.
P-type: sample size was too limited to determine a conclusive trend this month.
Full black modules:
Full black modules experienced a price decline of 9%, moving to €0.099/Wp, compared to €0.109/Wp last month, reflecting a steady oversupply and competition among suppliers.
sun.store
PV inverters prices in October 2024.
Inverter prices reveal nuanced shifts
For the first time inverters are included in the pv.index. “We’re excited to introduce a more detailed breakdown in the inverter market”, Agata Krawiec-Rokita, CEO of sun.store, commented.
Hybrid Inverters:
<15kW: Prices have decreased by 7% over the last three months, from €128/kW to €119.25/kW. This reduction aligns with slightly lower-than-expected demand for residential installations, coupled with constant oversupply, prompting suppliers to adjust prices for smaller capacity units.
15+ kW: Larger hybrid inverters experienced a 5% price drop between August and September, stabilizing in autumn (September to October) with a slight 1% increase to €90.69/kW, up from €90.18/kW last month. This increase reflects a shift towards premium brands, such as Huawei, indicating a preference for high-quality products in larger-scale projects.
On-grid Inverters:
<15kW: A 13% drop in string inverters for residential use shows both a shift to hybrid options and downward pricing trends in the residential segment. The average price for smaller on-grid inverters fell by 2%, reaching €67.85/kW from €69.21/kW in September, suggesting a price recalibration as the market stabilizes following the summer peak.
15+ kW: Inverters over 15 kW in the on-grid category experienced a 2% rise, with prices increasing to €27.11/kW from €26.49/kW. As with hybrid inverters, this increase is largely driven by a preference for higher-performance brands, reinforcing the trend toward premium choices in larger installations.
Krzysztof Rejek, Head of Business Developmentat sun.store, comments on the current pricing dynamics: „The trend of module stock devaluation continues with sellers trying to increase their sales figures. We expect for that situation to remain actual especially due to upcoming Black Friday promotions and year-end clearances. This trend allows buyers to secure top-quality components much below regular costs, fueling demand and opening up new opportunities for projects across Europe. We anticipate these attractive prices will continue, providing a unique chance for our users to capitalize on some of the best deals of the year.“
In terms of brand preference, Jinko Solar dominated across all panel categories (Monofacial, Bifacial, and Full Black), continuing its streak as a top choice among sun.store users. For inverters, Solis emerged as the preferred brand for systems under 15kW, while Sungrow led in the 15+ kW category, demonstrating a strong demand for reliable, high-performance equipment in larger installations.
About – pv.index & The PV Purchasing Managers’ Index (PV PMI)
pv.index traces current trading prices for solar components on a monthly basis. Data is recorded on sun.store, a online PV trading platform with 7.8 GW+ of components on offer. Trading prices are weighted by the power of components involved in the transactions to arrive at a reliable estimate for the whole market.
The PV Purchasing Managers’ Index (PV PMI) is a measure indicating the overall sentiment towards the demand in the PV industry. PV PMI shows whether demand is expected to expand (above 50), remain stable, or contract (below 50), as perceived by purchasing managers.
The PV PMI was calculated as: PMI = (P1 * 1) + (P2 * 0.5) + (P3 * 0), where: P1 = percentage of answers reporting an improvement, P2 = percentage of answers reporting no change, P3 = percentage of answers reporting a deterioration. Survey is based on a sample of 800+ sun.store buyers. (hcn)
The PV PMI (PV Purchasing Managers’ Index), purchasing intentions from buyers across the sun.store platform, continues to provide a valuable lens into the industry’s direction. sun.store, Europe’s largest solar marketplace, is central to these market insights, with over 16,500 registered users and more than 7 GW of equipment available from a diverse range of suppliers. This month’s index reveals increasing buyer confidence as 54% of respondents plan to boost their purchasing in October, a significant rise from 49% in September.
PV PMI: Buyer confidence bounces back
September marked a welcome resurgence in market optimism, with the PV PMI climbing to 71. This jump highlights the renewed confidence buyers have in the solar market, with over half of respondents signaling plans to increase their purchases in the coming month. Meanwhile, the percentage of buyers intending to reduce their orders fell slightly to 11%, indicating that overall sentiment is stabilizing after the summer lull. While 36% of respondents plan to maintain current purchasing levels, this strong PMI reading suggests growing momentum as the market heads into the final quarter of the year.
pv.index –Price trends: further declines across the board:
Despite the increase in demand, solar component prices continued to decline in September. This price reduction can largely be attributed to excess supply, which continues to pressure the market.
Monofacial modules:
N-type: modules saw a further 1% reduction, with average prices dropping from €0.106/Wp in August to €0.105/Wp in September.
P-type: modules experienced a steeper decline of 9%, falling from €0.100/Wp in August to €0.091/Wp.
Bifacial modules:
N-type: modules experienced a steeper decline of 9%, falling from €0.100/Wp in August to €0.091/Wp.
P-type: too small sample to calculate the trend.
Full black modules:
Remained steady this month, holding at €0.109/Wp, after dropping significantly in previous months.
This steady reduction in prices is reflective of an oversupplied market, with many manufacturers continuing to offload stock at competitive prices. The PV index consistently highlights these trends, offering detailed visibility into transactional pricing across sun.store’s vast European network.
Jinko Solar continues to dominate
For yet another month, Jinko Solar was the most popular brand among buyers on sun.store. This reflects Jinko’s consistent ability to provide high-quality, competitively priced products, even in a volatile market. As competition tightens among suppliers, Jinko’s dominance underscores the importance of reliable, well-regarded manufacturers in maintaining market confidence.
Victor Cantareli, International Business Development Manager at sun.store, offered his insights into the current dynamics: Having exposure to several markets—from the UK & Ireland to the Nordics and Portugal—I’ve observed first-hand a resurgence in both equipment purchases and installations over the past month. Market dynamics do vary significantly between countries, but the overall outlook remains positive as we head into the final quarter of the year, with more projects and contracts being signed. Despite the noticeable slowdown in August, as highlighted in our previous report, some of my key accounts achieved record project sales, with procurement activities already picking up pace for Q4 2024.
As the PV industry moves into the final quarter of 2024, the rebound in demand and the ongoing price declines are setting the stage for what could be an interesting conclusion to the year. With new projects in the pipeline and growing interest in solar solutions, all eyes are on the market’s next moves. sun.store, with its extensive network and insights, remains a key player in navigating these changes.
About – pv.index & The PV Purchasing Managers’ Index (PV PMI)
pv.index traces current trading prices for solar components on a monthly basis. Data is recorded on sun.store, the biggest online PV trading platform with 7 GW+ of components on offer. Trading prices are weighted by the power of components involved in the transactions to arrive at a reliable estimate for the whole market.
The PV Purchasing Managers’ Index (PV PMI) is a measure indicating the overall sentiment towards the demand in the PV industry. PV PMI shows whether demand is expected to expand (above 50), remain stable, or contract (below 50), as perceived by purchasing managers.
The PV PMI was calculated as: PMI = (P1 * 1) + (P2 * 0.5) + (P3 * 0), where: P1 = percentage of answers reporting an improvement, P2 = percentage of answers reporting no change, P3 = percentage of answers reporting a deterioration. Survey is based on a sample of 500+ sun.store buyers. (mfo)
The PV PMI (PV Purchasing Managers’ Index), which tracks overall demand trends in the industry, provides valuable insights into the market’s direction based on input from sun.store buyers. As the largest solar marketplace in Europe, sun.store plays a central role in this landscape, boasting more than 15,000 registered users and over 6 GW of equipment available from a multitude of brands.
In August, the PV PMI remained stable at 68, the same as in July, indicating that market confidence has remained consistent throughout the summer. This steady reading suggests that while some market participants are maintaining a cautious approach, the overall sentiment remains positive, with a significant proportion of buyers continuing to plan for stable or increased purchasing activities.
sun.store
The PV Purchase Manager`s Index of online trading platform sun.store was pretty steady in August 2024,
While the percentage of respondents intending to increase their purchases saw a slight dip from July’s 50% to 49%, the proportion of those planning to maintain their current purchasing levels rose to 39%, up from 37%. This shift suggests a cautious yet positive sentiment among buyers, who are likely adopting a wait-and-see approach in anticipation of potential regulatory changes and further market developments in the fall. The number of those expecting to decrease their orders remained low at 12%, underscoring the underlying stability and confidence within the industry.
August brought significant changes in the pricing of PV panels across all categories. Notably, the prices for both monofacial and bifacial panels continued to decline, reflecting ongoing oversupply issues and competitive pressures in the European market.
Monofacial modules:
N-type: Experienced a 6% reduction in the average price, dropping from €0.113/Wp in July to €0.106/Wp in August.
P-type: Saw a more substantial decline of 12% in the average price, with prices falling from €0.114/Wp to €0.100/Wp.
Bifacial modules:
N-type: Marginally decreased by 1% in the average price, from €0.121/Wp to €0.120/Wp.
P-type: too small sample to calculate the trend.
Full black modules:
This category saw a 6% decrease in the average price, moving from €0.116/Wp in July to €0.109/Wp in August.
Jinko Solar remains the top spot
Jinko Solar has once again emerged as the most popular brand on the sun.store platform, which highlights the brand’s strong presence and continued trust among PV buyers.
Krzysztof Rejek, Head of Business Development at sun.store, shared his perspective on the current market dynamics: „The ongoing pricing challenges, driven by the overstock of older modules and the overcapacity of new ones, remain a significant factor in the market. Although we’ve seen decreased shipping volumes, this has not yet translated into lower price levels for higher-performance modules. We anticipate that the effects of these reduced volumes will become more evident in the coming months. Meanwhile, lower-performance modules continue to experience a decline in value, with further sell-offs likely as suppliers seek to clear excess inventory.“
August 2024 has proven to be a month of steady demand with continued price adjustments. Persistent oversupply and overcapacity have driven prices down, particularly in lower-performance segments. While the impact of reduced shipping volumes on high-performance modules is still unfolding, the market remains resilient. sun.store continues to support the industry by providing access to essential solar components and insights to navigate these challenges.
About – pv.index & The PV Purchasing Managers’ Index (PV PMI)
pv.index traces current trading prices for solar components on a monthly basis. Data is recorded on sun.store, the biggest online PV trading platform with 6 GW+ of components on offer. Trading prices are weighted by the power of components involved in the transactions to arrive at a reliable estimate for the whole market.
The PV Purchasing Managers’ Index (PV PMI) is a measure indicating the overall sentiment towards the demand in the PV industry. PV PMI shows whether demand is expected to expand (above 50), remain stable, or contract (below 50), as perceived by purchasing managers.
The PV PMI was calculated as: PMI = (P1 * 1) + (P2 * 0.5) + (P3 * 0), where: P1 = percentage of answers reporting an improvement, P2 = percentage of answers reporting no change, P3 = percentage of answers reporting a deterioration. Survey is based on a sample of 500+ sun.store buyers. (hcn)
The PV PMI (PV Purchasing Managers’ Index), which gauges the overall demand outlook in the industry, reflects input from sun.store buyers. sun.store is the largest solar marketplace in Europe, boasting more than 13,000 registered users and over 6 GW of equipment available from a multitude of brands.
The index, based on responses regarding future purchasing plans, remained steady at 68 in July. However, the breakdown of purchasing intentions shows strong market confidence. In July, 50% of respondents plan to increase their purchases, 37% intend to maintain their current purchase levels, and only 13% expect to decrease their orders. These results are very similar to those observed in June, indicating a consistent outlook among buyers.
Generally, July’s PV PMI score remains robust. With half of the respondents intending to boost their purchases in August, this solid PMI result suggests that demand will continue to be strong across Europe, despite the challenges faced by the industry and the vacation season. The decline in prices is primarily attributed to an oversupply in the market.
sun.store
pv.index gives a summary of July`s prices of solar modules.
The pv.index tracks the average transactional prices on sun.store, derived from the activities of over 13,000 registered users across more than 40 European countries. Continuing June’s detailed breakdown, we provide insights for the monofacial category, including N-type and P-type modules, as well as N-type modules for the bifacial category.
Monofacial modules:
N-type: Average price fell by 13% from 0.128 EUR/Wp to 0.113 EUR/Wp;
P-type: Average price incresed by 11% from 0.103 EUR/Wp to 0.114 EUR/Wp. This increase was driven by a surge in demand for specific P-type models, which may be end-of-series or soon-to-be discontinued.
Bifacial modules:
N-type: Average price dropped by 11% from 0.136 EUR/Wp to 0.121 EUR/Wp;
P-type: too small sample to calculate the trend.
Full black modules:
The price dropped by 6% from 0.123 EUR/Wp to 0.116 EUR/Wp.
Jinko Solar remained the most preferred brand among buyers.
Ongoing overstock issues across Europe
Agata Krawiec-Rokita, CEO & Co-founder of sun.store, commented: „In July, we have witnessed a continuation of the trend where prices are declining, particularly in the N-type and full black modules. This is largely due to ongoing overstock issues across Europe and fierce competition among manufacturers to clear out inventories. The seasonal slowdown due to summer vacations has also contributed to a reduction in installation activities. #
Despite these factors, market sentiment remains positive, as evidenced by our stable PMI score. We are closely monitoring the situation and anticipate that the upcoming months, especially with expected regulatory changes in September, will bring new dynamics to the market. The resilience of the industry continues to be a key highlight, and we are optimistic about future developments.“
About – pv.index & The PV Purchasing Managers’ Index (PV PMI)
pv.index traces current trading prices for solar components on a monthly basis. Data is recorded on sun.store, the biggest online PV trading platform with 6 GW+ of components on offer. Trading prices are weighted by the power of components involved in the transactions to arrive at a reliable estimate for the whole market.
The PV Purchasing Managers’ Index (PV PMI) is a measure indicating the overall sentiment towards the demand in the PV industry. PV PMI shows whether demand is expected to expand (above 50), remain stable, or contract (below 50), as perceived by purchasing managers.
The PV PMI was calculated as: PMI = (P1 * 1) + (P2 * 0.5) + (P3 * 0), where: P1 = percentage of answers reporting an improvement, P2 = percentage of answers reporting no change, P3 = percentage of answers reporting a deterioration. Survey is based on a sample of 500+ sun.store buyers. (hcn)
