Price of photovoltaic modules should remain low until 2025

Second Amy Fang, Senior Market Analyst at Infolink, the low price scenario for photovoltaic modules should remain stable until the end of 2025. 

She explains that one of the factors that contribute to this price stability is the high production capacity, that is, the market is currently facing a problem of oversupply throughout the supply chain.

Production capacity has grown significantly in recent years, and should reach around 1.4 TW by the end of 2024.

In Amy's assessment, the projections of the global market do not indicate accelerated growth compared to last year. “For 2024, projections point to a global market of 470 GW to 530 GW,” said the analyst. 

Compared to approximately 467 GW of capacity added in 2023, the Global market growth this year could be around 0.5 to 13%, which, compared to previous years' growth of 65%, is not substantial.

According to a survey carried out by Solar Channel together with large players in the photovoltaic module market, this slower growth is mainly due to the price of energy, which has generally fallen worldwide. 

This scenario mainly impacts larger projects, known as utility scale (centralized generation). As a result, investor appetite decreases and, consequently, the availability of financing is also reduced.

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