Solar module prices set to fall 35% in 2018 - BNEF

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Module ASP declines expected in the second half of 2018 could stimulate demand growth in 2019 and in 2020. Image: Soltec

According to Bloomberg New Energy Finance (BNEF), the global average selling price (ASP) of solar modules is expected to decline by 35% in 2018, compared to previous forecasts of a 20% to 27% decline, due to the Chinese government curtailing solar growth through new policies initiated last Friday. 

The halt to utility-scale PV projects and caps on distributed generation (DG) that is expected to result in China installing 30GW to 35GW in 2018, compared to over 53GW in 2017, could result in manufacturing overcapacity that would lead to the significant ASP decline of PV modules.
 
BNEF does not expect the solar industry to meet last year’s record global installations of around 98GW, due to the policy changes in China. BNEF had previously forecast global PV demand in 2018 to be around 107GW.

However, the module ASP declines expected in the second half of 2018 could stimulate demand growth in 2019 and in 2020, which may slow the ASP rate of decline in 2019 to 10% to 15%, according to BNEF.

Read Next

August 4, 2021
New investment in renewables reached a record US$174 billion in H1 2021, with renewable energy companies raising 509% more than H1 2020 and investment in solar projects up 9%, according to the latest Renewable Energy Investment Tracker from BloombergNEF
PV Tech Premium
August 4, 2021
The latest installment of PV Tech’s special feature on Europe’s solar renaissance rounds-up the rest of the continent’s key markets, examining the key drivers behind solar growth in Portugal, France and the UK, amongst others.
PV Tech Premium
August 3, 2021
This installment of PV Tech’s European solar special uncovers the emerging markets of Europe’s PV sector, including Poland, Denmark and Greece.
August 2, 2021
Legislation that would increase and extend the US’ residential solar investment tax credit has secured the backing of a host of solar companies and non-profits.
PV Tech Premium
August 2, 2021
In today’s installment of PV Tech’s ‘European solar under the spotlight’ feature, we assess the potential and key drivers behind Europe’s leading markets in Germany, Spain and the Netherlands.
PV Tech Premium
July 30, 2021
Not only will solar be the dominant source of new power generation in Europe by 2025, cementing its position as the third largest market for solar globally, but the continent has placed the asset class at the very heart of its COVID-19 recovery strategy. As part of a week-long special report on PV Tech Premium, Liam Stoker, Edith Hancock and Jules Scully explore the drivers for solar in Europe, the key markets and the challenges that remain.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
August 19, 2021
At 9am (PT) | 6pm (CEST)
Solar Media Events
August 25, 2021
Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK