Solar module buyers’ confidence grows in Europe

Facebook
Twitter
LinkedIn
Reddit
Email
Move On Energy has powered Europe's largest solar PV plant.
In its pv.index report for last month, sun.store found that the majority of solar module buyers planned to increase their volume of purchases. Image: Move On Energy via LinkedIn.

Solar module demand increased in Europe in May, according to data from solar wholesaler sun.store, as buyers’ confidence rose and the price of bifacial modules fell.

In its pv.index report for last month, sun.store found that the majority of solar module buyers planned to increase their volume of purchases, which it said “suggests strong confidence in the market.”

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The company uses its PV Purchasing Managers’ Index (PMI) points to track demand based on over 700 solar PV buyers. Numbers above 50 represent projected growth, 50 show steady growth, and below 50 show a projected decline. May 2024 saw a rating of 72, an increase from 71 and 68 in March and April, respectively.

Of the respondents, 57% said they intended to increase their module purchasing volumes in the coming month, while 30% planned to stay steady and 13% intended to purchase less.

sun.store’s PV PMI results. Image: sun.store

In its analysis, sun.store said that the increased confidence reflects “a slight recovery in industrial demand as energy prices stabilise and market competition intensifies. Lower energy costs and inflation-induced financial constraints have continued to impact residential solar adoption.” It added that the increase coincides with the usual “high season” for solar in the summer months.

April’s pv.index report showed a dip in confidence and demand, largely driven by stabilising energy prices and inflation. High energy prices during the crisis of 2022-23 was a main driver behind a significant increase in European residential solar adoption, which increased module demand.

“Overall, May’s PV PMI reading would be considered robust in any industry, reflecting strong confidence among buyers. The slight increase in the index from April’s 68 to 72 suggests that the market expects a steady demand through the summer months,” the report said.

Bifacial price drops

The pv.index report also tracks module prices in Europe. May saw a “significant decline” in the prices of bifacial modules, down to €0.128/Wp (US$0.14/Wp) from €0.135/Wp in April.

Both monofacial and full-black modules very slightly increased in price.

Agata Krawiec-Rokita, CEO & co-founder of sun.store said: “We are currently experiencing a stabilisation in transactional prices for modules, but the listed offer prices show a slight downward trend. There is still a significant stock of inventory in Europe and silicon prices falling, which suggests that many are holding off in anticipation of further price drops. This situation is somewhat maintained by the high demand of the peak season. We are all eager to see what the upcoming months will bring to our market.”

The report also showed that, for the first time since it began in December 2023, JinkoSolar was not the preferred module supplier. Fellow Chinese solar manufacturing giant JA Solar took the top spot in May.

21 May 2025
London, UK
The Renewables Procurement & Revenues Summit serves as the European platform for connecting renewable energy suppliers to the future of energy demand. This includes bringing together a community of European off-takers, renewable generators, utilities, asset owners, and financiers. The challenges ahead are complex, but through collaboration, innovation, and a shared vision, we can navigate uncertainties and forge a sustainable energy future. Let us harness our collective knowledge to advance the renewable energy agenda.
3 June 2025
Messe Stuttgart Stuttgart, Germany
Meet battery manufacturers, suppliers, engineers, thought leaders and decision-makers for a conference and battery tech expo focused on the latest developments in the advanced battery and automotive industries. Stay plugged in for all the latest information on The Battery Show Europe 2024 including: Keynote Speakers & Conference Overview Show Features Floor Plan & Exhibitor News Travel & Transport information
17 June 2025
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 17-18 June 2025, will be our fourth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2026 and beyond.
25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.
2 December 2025
Málaga, Spain
Understanding PV module supply to the European market in 2026. PV ModuleTech Europe 2025 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.
10 March 2026
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

April 25, 2025
Austria has announced a 'Made in Europe' bonus of 20% to government funding for PV and storage projects that use components made in Europe.
April 24, 2025
Leading Chinese firm DAS Solar has started construction at a 3GW module manufacturing facility in Mandeure, France, its first in Europe.
April 24, 2025
Lee Zhang of Sungrow reveals how the company's new inverter meets the needs of the rapidly evolving solar and storage industries.
April 24, 2025
Floating solar remains constrained by a range of technical and regulatory uncertainties, according to an IEA PVPS report.
April 24, 2025
Swiss solar manufacturer Meyer Burger has reduced shifts for around 300 employees at its Thalheim cell manufacturing facility amid supply chain challenges.
April 24, 2025
US material recovery firm OnePlanet has closed two financing deals to aid the development of a solar module recycling facility in Florida.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 29, 2025
Dallas, Texas
Media Partners, Solar Media Events
May 7, 2025
Munich, Germany
Solar Media Events
May 21, 2025
London, UK
Solar Media Events
June 17, 2025
Napa, USA
Solar Media Events
July 1, 2025
London, UK