Solar module prices continued to rise across Europe in May, while buyer confidence recovered to its highest level since the start of the year, according to the latest market report from solar trading platform sun.store.
The company’s latest PV Index found that the PV Purchasing Managers’ Index (PMI) increased to 70 in May from 66 in April, indicating stronger purchasing intentions among solar buyers following a brief slowdown last month.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
The rebound came as module prices continued their upward trajectory across most technology categories, extending a trend that has persisted throughout 2026.
According to the report, tunnel oxide passivated contact (TOPCon) bifacial modules reached an average price of €0.125/Wp (US$0.14/Wp) in May, up 7% month-on-month, while TOPCon monofacial modules remained unchanged at €0.122/Wp.
Sun.store said that the increase in bifacial module pricing was partly driven by a shift towards larger-format modules exceeding 500W.
Additionally, premium residential modules witnessed further gains. Full black modules rose 3% month-on-month to €0.128/Wp, while back contact modules increased 4% to €0.134/Wp, making them the highest-priced category tracked by the index.
The report suggests that demand for higher-efficiency and premium residential products remains resilient despite rising equipment costs.
Based on sales volume through the platform, Trina Solar overtook JA Solar to become the best-selling module supplier in May. LONGi, Jinko Solar and Canadian Solar rounded out the top five manufacturers.
While module prices continued to increase, inverter pricing remained largely stable for a third consecutive month. Hybrid inverter prices for systems between 1kW and 15kW were unchanged at €95.34/kW, while larger hybrid systems declined 3% to €79.60/kW.
String inverter pricing also showed limited movement, with systems between 1kW and 15kW remaining flat at €44.02/kW and larger systems increasing slightly by 2% to €27.68/kW.
Deye, Huawei lead inverter rankings as prices hold steady
In the inverter rankings, Deye maintained its leading position in the hybrid inverter segment ahead of Huawei and GoodWe. In the string inverter category, Huawei reclaimed the top position from Sungrow after briefly losing the lead in April.
The report’s PMI survey, based on responses from 1,101 Sun.store users, found that 49% of respondents planned to increase purchases over the coming months, while only 10% expected to reduce procurement activity. The share of buyers planning to cut purchases was the lowest recorded during the reporting period.
According to the last report, the PMI fell from 68 to 66 despite continued price increases across most module categories. At the time, sun.store attributed the decline to a moderation in demand growth following what it described as an exceptionally strong first quarter.
With both pricing and buyer sentiment moving higher in May, the report suggests the European solar market is entering the summer installation season with demand remaining robust despite higher module costs.
