Solar module prices rise faster than expected in February

<p class="p1"><span class="s1">Solar module prices increased by €0.01 ($ 0.012)/W to €0.015/W in February, lifting levels 15% to 18% above the December 2024 low despite falling wafer costs, as manufacturers seek to restore margins after prolonged losses.</span></p><p>Module prices increased more sharply than anticipated in February across all major technology classes. Most products rose by around €0.01/W to €0.015/W. Modules for small rooftop systems recorded larger increases than utility-scale products. Prices have moved above January 2025 levels and now stand 15% to 18% above the December 2024 low.</p>
<p>The increases are not linked to higher raw material costs or changes to Chinese export subsidies. Wafer prices declined again during the month, while silver prices continued to normalize. The price adjustments appear to reflect manufacturers’ efforts to improve margins after an extended period of losses. Approaches differ, with some suppliers introducing gradual increases and others implementing single-step hikes of 20% to 30%.</p>
<p>Manufacturers with greater exposure to the utility-scale segment have taken a more cautious approach. Project economics in this segment remain highly sensitive to component costs, and significant price increases risk delaying investment decisions. In the residential and commercial rooftop market, module price changes typically compress installer margins rather than directly affecting end-customer demand. Market conditions remain subdued, however, and further demand contraction cannot be ruled out.</p>
<p>Political uncertainty is also affecting sentiment. In the United States, President Donald Trump has signaled a shift in federal climate policy priorities, creating uncertainty around renewable energy deployment. In Germany, early details of the federal government’s proposed network package have drawn criticism from industry representatives and environmental groups concerned about potential delays to grid expansion and renewable integration. The scope and implementation of the proposed measures remain unclear.</p>
<p>The sector is entering a period of adjustment. After several years of rapid expansion supported by favorable policy frameworks, manufacturers and developers are adapting to a more uncertain regulatory environment. Trade associations are preparing policy responses and considering legal options to defend existing frameworks. Public demonstrations have resumed, including a protest outside Germany’s Federal Ministry for Economic Affairs and Energy where decommissioned wind turbine blades and discarded solar modules were displayed to call for continued support for the energy transition.</p>
<p>Industry representatives say coordinated action will be needed to maintain deployment targets and investment stability. Rooftop and ground-mounted PV installations continue to expand, alongside growing interest in battery storage and vehicle-to-grid applications, although policy uncertainty remains a key variable for investment planning.</p>
<p><strong>Module price points by tech on Feb. 18, 2026, including month-on-month changes</strong></p>
<p><img alt="" class="size-medium wp-image-333892 aligncenter" height="279" src="https://www.pv-magazine.com/wp-content/uploads/2026/02/pvXchange_Modulpreisindex_Uebersicht_2026-02-600x279.jpg" tabindex="0" width="600" /></p>
<p><strong>About the author</strong></p>
<p><img alt="" class="size-full wp-image-330475 alignleft" height="125" src="https://www.pv-magazine.com/wp-content/uploads/2026/01/MartinSchachinger.png" tabindex="0" width="125" />Martin Schachinger studied electrical engineering and has been active in the field of photovoltaics and renewable energy for 30 years. In 2004, he set up his own business and founded pvXchange.com. The internationally renowned online trading platform allows wholesalers, installers, and service companies to purchase standard components for new installations, as well as solar modules and inverters that are no longer manufactured but are urgently needed to repair defective PV systems.</p>