pv.index – April 2024

Demand outlook dips again & a fall in prices of solar panels

Following a robust start to the year, the pace of PV installations across Europe is showing a slight deceleration. This trend is mirrored in the PV Purchasing Managers’ Index (PMI), which has recorded modest yet consistent declines since February. April’s reading stands at 68, down from 73 in February. Along with softening demand for residential modules, there is a noticeable fall in solar panel prices, particularly in specific categories.

PV PMI –PV Purchasing Managers’ Index (PMI) is a result of a monthly survey filled by more than 300 sun.store buyers, measuring overall demand outlook in the industry. It has been recording small but steady declines since February – April’s results was 68 which represents 5 points decrease comparing to 73 in February.

This change underscores a slight shift in industrial demand as energy prices stabilize and market competition intensifies. Additionally, lower energy costs and inflation-induced financial constraints have somewhat dampened enthusiasm for residential solar adoption across Europe, with Spain notably affected. The typically strong German market also recorded fewer installations in March and April. That said, regions like Italy are demonstrating resilience.

Overall, April’s PV PMI reading would be considered strong in any other industry, as half of the respondents plan to increase their purchases in May compared to April.

pv.index –summary of average transactional prices from sun.store, the biggest solar trading platform in Europe with more than 8,000 registered users from 30+ countries.

March witnessed a supply shortage of Commercial and Industrial (C&I) modules within the 450-500 Wp power class, a trend that did not carry over into April. As a result, average monofacial module prices have declined from 0.129 to 0.123 EUR/Wp. Similarly, bifacial models experienced an average price decrease from 0.141 to 0.135 EUR/Wp.

Full black modules was the only category to record a slight increase in average price from 0.131 to 0.132 EUR/Wp, reflecting a reduced availability of these models across Europe.

Due to the expected seasonal demand spike and shortages of certain module types in Q1, installers and distributors are more inclined towards stocking up. High PV PMI result instills confidence that the demand will remain strong throughout Europe heading into the summer. – commented Agata Krawiec-Rokita, CEO & Co-founder – sun.store

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 3 GW+ of components on offer. Trading prices are weighted by 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. It is calculated based on a questionnaire among 300+ sun.store buyers. 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 300+ sun.store buyers.

What is sun.store

sun.store is the biggest online trading platform for solar components. Its more than 8,000 registered users from 30+ countries have constant access to 3 GW+ of available components from 100+ manufacturing brands, located in more than 100 warehouses across Europe. This diversity ensures that the installers have constant access to the best deals on a wide range of equipment, from various manufacturers of modules, inverters, storage solutions, and all necessary accessories.

sun.store is currently available in 6 languages and provides its users with logistics services as well as safe payment options – all to make sure that PV component trading online becomes as smooth an experience as possible.