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.

PV inverters prices in October 2024.

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 Development at 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.“

Also see: Battery revenues forecast to rebound in 2026

October’s most preferred brands

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.

Also see: “A company cannot be on hold for a year”

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)





Source link



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.

See also: Project developer Limes with more solar projects in Italy

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)





Source link


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.

pv.index – PV panel price trends – continuing downward trajectory

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.“

Also see: Merciless battle for prices and market share

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)





Source link


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.

See June`s pv.index and PV PMI

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)





Source link