pv.index – May 2025

JA Solar shakes up the market

sun.store sets the pace: introducing Top Brand Trends

As Europe’s largest PV marketplace, sun.store continues to lead the charge with deep data and real-time insights. With more than 28,000 registered users, over 1 GW of components traded since launch, and a GMV milestone of €100M, sun.store offers an objective benchmark for price and popularity trends across Europe’s PV industry.

As always, this edition brings our monthly overview of pricing trends and PV PMI sentiment, providing installers and traders with up-to-date insights into market confidence and component costs. This month, we’ve observed a noticeable rise in module prices, particularly for Full Black and P-type monofacial panels, driven by supply constraints amid seasonal demand for PV installations. Inverters, however, show only slight price adjustments, as ample stock levels help balance the increased demand.

With this June edition of the PV Index, we’re excited to launch a new section: Top Brand Trends. Powered by exclusive sales data from the sun.store platform, this feature highlights the five most popular brands in solar panels, hybrid inverters, and on-grid inverters – offering a real-time snapshot of what’s shaping the European PV market.

Top Brand Trends

Methodology:

The Top 5 rankings below are based on sales value data from the sun.store platform, collected between January and May 2025. These are sun.store’s own sales data, drawn from transactions made directly on our platform. We identified the five best-selling brands (by transaction value) in each of the following categories: solar panels, hybrid inverters, and on-grid inverters. We monitor the PV market closely and will regularly review these rankings to ensure they reflect the most accurate and up-to-date view of industry trends.

Solar panels: JA Solar takes the lead

Our data reveals a dynamic shift in module preferences. JA Solar has claimed the top spot in May 2025, overtaking competitors with its strong market presence. The top five for solar panels are:

• JA Solar (1st) – Dominating with competitive offerings and reliability.
  
• Jinko (2nd) – A consistent favorite, now in second place.
  
• Aiko (3rd) – Rising steadily with a focus on quality and performance.
  
• Trina (4th) – Gaining traction with innovative products.
  
• LONGi (5th) – Slipped to fifth but remains a reliable choice.
  

JA Solar’s rise to the top underscores a broader trend: installers are prioritizing high-quality, trusted brands amid supply constraints and evolving market demands.

Hybrid inverters: Deye leads with momentum

In the hybrid inverter category, Deye has further strengthened its position as a category leader in May 2025, confirming its dominance in installer preferences.

• Deye (1st) – Leading with innovative and versatile solutions.
  
• GoodWe (2nd) – Climbing steadily with reliable performance.
  
• Huawei (3rd) – Holding a solid position despite competition.
  
• Sungrow (4th) – Gaining ground with competitive pricing.
  
• Fronius (5th) – A steady player in the market.
  

Deye’s rise highlights the growing demand for adaptable hybrid technologies across Europe.

On-grid inverters: Huawei holds strong

Huawei continues to dominate the on-grid inverter market in May, with Sungrow closing in:

• Huawei (1st) – Maintaining its top position with consistency.
  
• Sungrow (2nd) – Sustaining its presence in the top tier since January.
  
• SMA (3rd) – Climbing in the ranking, now firmly positioned in the top 3 for the third consecutive month.
  
• SolarEdge (4th) – Holding its ground amid market shifts.
  
• Fronius (5th) – A reliable choice for on-grid projects.
  

Huawei’s leadership persists, but Sungrow’s ascent signals evolving preferences.

Pricing trends: modules up, inverters down

Solar panels

In May 2025, solar module prices continued their upward trend, with growing demand and tighter inventory driving price adjustments across the board. Monofacial P-type modules saw the sharpest increase, up by 10% to €0.086/Wp, largely due to limited availability and mounting pressure on distributors to meet residential and commercial installation timelines. Full Black modules also experienced a notable 7% price rise, driven by both aesthetic preference and seasonal demand in the residential segment. Meanwhile, monofacial N-type and bifacial N-type modules remained relatively stable, reflecting balanced supply-demand dynamics in higher-efficiency segments.

Inverters

In contrast, inverter prices continued their downward slide, offering welcome relief to installers. Hybrid inverters dropped by 2% across both the <15kW and >15kW categories, reflecting sustained competition and available stock. On-grid inverters also saw a marginal 1% decline for small systems (1–15kW), while prices for larger systems (>15kW) held steady. These trends highlight diverging pressures in the solar supply chain – modules tightening in supply and climbing in cost, while inverters remain in supply, fueling a buyer-friendly market.

Expert Insight:“The recent price increases reflect dwindling stock across the EU. Distributors with limited but in-demand inventory are gaining pricing power, while larger stockholders are reducing prices. Full Black modules, in particular, saw spikes driven by the residential segment and the seasonal surge in installations,”

— Filip Kierzkowski, Head of Partnerships and Trading, sun.store.

PV PMI: Steady Sentiment at 70

The PV PMI remained steady at 70 in May 2025, reflecting a balanced optimism in Europe’s solar market as the installation season peaks. Among the 908 sun.store users surveyed, 53% plan to increase purchases, 34% will maintain current levels, and 13% expect to reduce orders, indicating resilient demand despite supply challenges. This stability is supported by the EU’s 2030 renewable energy goals and a projected ~10% growth in PV installations, though grid delays and rising module prices – due to reduced Chinese export rebates – temper enthusiasm. The growing adoption of N-type panels and residential solar boosts confidence, yet seasonal slowdowns and high interest rates suggest a pragmatic approach among buyers.

*Calculated as PMI = (P1 * 1) + (P2 * 0.5) + (P3 * 0)—where P1 is improvement, P2 no change, and P3 deterioration—this score highlights a market adapting to supply constraints while gearing up for peak installation season.

Outlook for the coming months

With a PMI of 70 and tightening module supplies, the European solar market stands at a pivotal moment. Rising prices for P-type and Full Black modules, driven by diminishing inventories, suggest supply constraints will linger into Q3, especially as global demand intensifies. Inverters, however, continue to favor buyers, with declining prices for hybrid and on-grid models offering cost-saving opportunities. As summer installation peaks near, securing stock will be key. Don’t miss out – explore sun.store’s exclusive deals on premium modules and inverters to lock in value before prices shift further.