Solar glass manufacturers expecting slide in prices after record-breaking 2020

By Carrie Xiao
Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
Solar glass provider profits topped US$1.25 billion in 2020, PV Tech analysis shows. Image: Almaden/Trina Solar.

Manufacturers of solar glass are expecting average selling prices to fall over the course of 2021 as more capacity comes onstream, but high prices last year helped send profits soaring.

Analysis conducted by PV Tech of financial results of glass providers such as Xinyi Solar, Flat Glass Luoyang Glass found that revenues and profits soared year-on-year, with Luoyang in particular recording a six-fold increase in net profit.

Xinye Solar, the market leader in solar glass, recorded a 35% jump in revenue to RMB103.99 billion (US$15.8 billion) last year, contributing to a near 89% leap in net profit to RMB38.4 billion (US$5.86 billion).

Most solar glass manufacturers notched record-breaking fiscal performances in 2020 as solar glass prices jumped as demand outstripped supply. Going into H2 2021, however, prices are expected to fall back below RMB30 (US$4.58) per ton from a current high of around RMB43 per ton.

The full analysis of solar glass manufacturing in 2020 is available for PV Tech Premium subscribers here. For details on how to subscribe to PV Tech Premium and a full list of member benefits, click here.

Supply chain constraints, particularly around solar glass and polysilicon, have arisen since the latter half of last year with demand for raw materials spiking as greater solar wafer, cell and module assembly capacity comes onstream. In November last year major module manufacturers lobbied for the Chinese government to intervene claiming prices for solar-grade glass were “out of control” after more than doubling in four months. At the time, some small-scale module suppliers were said to have been quoted prices as high as RMB50/ton.

It prompted a suite of new policies aimed at bringing new capacity online to address the shortfall, however in the short-term supply is expected to remain constrained and, as a result, solar module prices have begun to creep upward.

Read Next

May 20, 2022
US solar tracker manufacturer Nextracker has expanded its output with the addition of a new line in Arizona.
PV Tech Premium
May 19, 2022
PV Tech speaks to Qcells CEO Justin Lee about the manufacturer's recent solar manufacturing capacity expansion, its use of TOPCon as a 'stepping stone' to future cell technologies and its new clean energy strategy.
PV Tech Premium
May 18, 2022
Identifying reliable module supply has become a huge challenge in the PV industry over the past couple of years. Moving forward, the industry needs to create a more globally-diversified manufacturing footprint, thereby avoiding any unexpected trade-related barriers that could be enforced. Understanding which module suppliers are going to prevail in this landscape will become of key importance over the next 12-18 months, Finlay Colville explains
May 18, 2022
LONGi Solar is planning to develop a 20GW module assembly facility in Wuhu City, Anhui Province after signing a cooperation agreement with local authorities.
May 12, 2022
Hanwha Solutions has unveiled plans to invest US$320 million in cell and module manufacturing capacity expansions in the US and South Korea.
May 4, 2022
Following the launch of its heterojunction module series in April, Carrie Xiao speaks to Risen Energy to get the inside track on the manufacturer’s technology approach and manufacturing plans as it backs HJT to deliver n-type efficiencies on a PERC budget

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 14, 2022
Napa, USA
Solar Media Events
October 4, 2022
New York, USA