European solar module market reaches supply and price ‘equilibrium’
Release time:
Oct 14,2025
The European solar module market has reached a “state of equilibrium” in recent weeks, with stable prices and regular demand.
The latest pv.index report from online solar marketplace sun.store shows that prices for passivated emitter rear contact (PERC), monofacial tunnel oxide passivated contact (TOPCon) and full black modules all remained steady in September 2025. The report said that the stability reflected “balanced supply and stable demand” of TOPCon modules and the attraction of cheaper PERC panels for “cost-driven projects”.
Only bifacial TOPCon modules saw a slight, 2% price decline, from €0.097/Wp (US$0.11/Wp) to €0.095/Wp, which sun.store called a “moderate” change after months of stability.
“After two years of rapid price corrections, the sector is now finding balance between production capacity, pricing and demand,” said Filip Kierzkowski, head of partnerships and trading at sun.store.
Sun.store’s Purchasing Managers’ Index (PMI), which gauges buyers’ interest from sun.store users, showed a slight increase in September, from 65 to 66. A score above 50 indicates “positive market outlook” and the overall intention to buy modules among respondents.
Of those surveyed, 45% expect to buy more modules next month than they did last month, while 42% anticipate no change and just 13% expect to buy fewer.
“This rebound suggests that distributors are gradually replenishing inventories after the slow summer months, anticipating steadier Q4 activity,” the report said.
“Stable module prices, slower inverter depreciation, and a modest improvement in PMI together signal a more sustainable market environment,” Kierzkowski said.
Stability in the module market is reflected in the inverter market, sun.store’s data shows, which is “mature” and “characterised by consistent brand preferences and strong customer loyalty among European installers.”
Previous page
Geo Solar Technology LLC
Mail: info@geosolar-energy.com
Web: www.geosolar-energy.com
Tel: +995 598 977 281
Address: 88 Avtomshenebeli St., Free Industrial Zone (Plot N01/298), Kutaisi, Georgia
