PV module prices in Europe have dropped across all technologies in September 2026, between 1.1% and 3.6%.
According to the latest PV Index report from online solar marketplace sun.store, TOPCon bifacial modules remain the cheapest with an average price of €0.114/Wp (US$0.128/Wp) and a monthly decrease of 1.3%.
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The price gap with TOPCon monofacial continues to narrow, with these averaging €0.12/Wp in September and a 2.3% decrease.
“The two TOPCon variants stayed apart this month, with bifacial the cheaper route for standard utility-scale modules by a narrowing margin”, said sun.store.
Full black modules have had the slowest monthly price decrease with a drop of 1.1% and an average price of €0.129/Wp in September 2026. It is also the most expensive type of module across all categories, given that black contact modules averaged €0.128/Wp last month, but their price decreased the most, by 3.6%.
When it comes to the supplier ranking over the three months to September 2026, the top five remains unchanged from last month with all five being Chinese module manufacturers. Trina Solar remains as the top supplier followed by Aiko and JA.
Price of larger inverters drops as smaller hybrid inverters go up
The report also covers prices of PV inverters with a mixed bag in price changes from the previous month. The smaller hybrid inverters, between 1-20kW, had a monthly price increase of 5.8% to €94.66/kW, while larger hybrid inverters decreased by 6.9% to €59.93/kW.
“Larger commercial units remain by some distance the most competitively priced part of the inverter market on a per-kW basis,” said sun.store.
Moreover, string and on-grid inverters above 20kW have experienced the highest price drop with a 10.5% decrease to €22.03/kW. According to the online solar marketplace this is mostly due to a shift in the mix of models trading, rather than a cut to any single product. In August, premium three-phase inverters carried a heavier weighting, while in September, the more competitive and larger commercial-scale models were favoured and thus tilted the price downwards.
Finally, the demand for solar modules in Europe continues to be below historic averages over the last three months, according to PV Index’s Purchasing Managers Index (PMI). However, the number rose from 65 in August to 67 in September, slightly below the historical average of 68, which points to a steady demand, according to sun.store.
47% of surveyed buyers planned to buy more modules in October than September, 40% expect no change and 13% plan to buy fewer modules in the coming month.
