European solar PV module price increase in March 2026 ‘may prove temporary’, says sun.store

Premium-design modules and higher efficiency have led to price increases across all technologies, with tunnel oxide passivated contact (TOPCon) modules trading well above mid-2025 levels, which reflects both the growing market acceptance and ongoing technological transformation, added sun.store.

Overall, TOPCon bifacial modules have increased from €0.103/Wp (US$0.121) to €0.107/Wp, while both monofacial TOPCon and full black modules have increased to €0.114W/p. Back contact modules saw the highest growth across all technologies from €0.114/Wp to €0.118/Wp. This highlights the continued willingness from buyers to pay more for “high-performance products with attractive design”.

The only technology that has not changed prices are monofacial passivated emitter rear contact (PERC) modules, which have been stable at €0.077/Wp since September 2025, as shown in the chart below.

“The broader conclusion remains the same: PERC prices are no longer the primary driver of market direction, as demand and pricing attention continue to shift toward newer technologies,” explained sun.store.

Despite the price increase in February and March, the trend might only be temporary, according to Krzysztof Rejek, VP of sales at sun.store. Rejek added that module prices might remain around 20% above end-2025 levels in the short term, but there are growing signs that the upward trend could change starting in the second quarter of 2026.

“In Q2, price stabilisation or even a correction of several to more than ten per cent is possible,” said Rejek, adding that “The removal of export tax relief in China (effective from April 1) has a limited cost impact of around 9%.

“Instead, current price movements are driven primarily by manufacturers rebuilding margins and by advance purchasing ahead of regulatory changes. At the same time, declining prices of cells, wafers and silver, combined with still relatively weak demand, increase the likelihood of a price correction in Q2.”

The latest sun.store report also names five Chinese manufacturers as the top five brands in Europe. Trina Solar regains the top spot, after dropping to third place in February. JA Solar remains among the leading module brands, dropping from first to second in March, while Aiko closes the podium in third. LONGi and TW Solar also ranked in the top five for last month.

Inverter prices remain stable

If prices of modules have increased for the past two months, inverters, on the other hand, have remained quite stable. Hybrid inverter prices declined slightly, by 1-2%, in March, while on-grid inverters saw small increases of 1-2%.

The continued demand for storage-compatible systems continues to provide a structural support for hybrid inverters, despite competition intensifying, according to sun.store.

“In the on-grid segment, prices rose slightly in both categories. This suggests that the earlier correction phase may have largely ended, particularly in residential and commercial applications. Overall, grid-connected inverter prices remain disciplined, with no signs of significant downward pressure,” added sun.store.

Unlike for modules, the top brands for inverters have remained mostly unchanged with Deye still the leading company for hybrid inverters, while Huawei retains the top spot for string inverters.

Finally, sun.store’s general index for buyers’ appetite remains positive, with nearly half of respondents saying they expect to increase their purchases in the future.

Leaders in the European solar sector are turning their attention to this year’s SolarPlus Europe event, to be held in Italy on 15-16 April by PV Tech publisher Solar Media. Information about the event, including the full agenda and options to purchase tickets are available on the official website.