Recent fluctuations in photovoltaic (PV) module prices have led Platts, a division of S&P Global Commodities, to introduce a new daily spot market price assessment for PV modules in the US, Asia, and Europe.
S&P Global noted the growing significance of solar PV in the global energy landscape, highlighting the need for an independent and transparent source of solar module pricing data.
Edurne Zoco, Executive Director of Analysis, Clean Energy Technology, S&P Global, said:
“Solar PV will be the most installed energy source for the next decades, with S&P Global Commodity Insights forecasting more than 4TWdc of new installations before 2030, which equates to three times the total power generation capacity of the US today.
“Furthermore, solar will account for nearly 40% of new power generation capacity globally by 2050. Solar modules have become one of the most sought-after commodities in the increasingly competitive energy markets.”
Since early 2023, a mix of import duties, oversupply, and supply chain costs has contributed to significant volatility in solar module pricing, according to S&P Global.
The new tool will track six distinct module spot prices, varying by geography, megawattage, and time periods. These assessments focus on solar modules with outputs between 570-720W, TOPcon specifications, and wafer sizes of 182-210 mm. Prices will be quoted in US cents per watt.
Additionally, the Platts Global Solar Module Marker provides a daily average of these six assessments, offering a global perspective on solar panel prices.
“We take seriously our commitment to help the marketplace and industry find solutions to pricing challenges and we’re pleased to heed the call and bring transparency to the solar module market, which is becoming more commoditised and is increasingly important to energy transition planning,” said Annalisa Jeffries, Global Head, Electricity Power Pricing, S&P Global Commodity Insights.
