Solar

Some solar suppliers increased prices for the first time in years amid AD/CVD petition, bifacial import duties

Some solar suppliers increased prices for the first time in years amid AD/CVD petition, bifacial import duties
(Photo by Dennis Schroeder, NREL)

Anza, a solar and energy storage supply chain platform, has unveiled its Q2 Pricing Insights Report on the U.S. solar module market, highlighting the first price increase in years from some suppliers in response to the latest Anti-Dumping and Countervailing Duty (AD/CVD) petition and the reinstatement of bifacial import duties.

Powered by the industry’s largest database of real price quotes, the report aggregates data from 95% of the U.S. solar module supply year to date to shed light on the cost landscape and its intersection with market forces and regulatory changes.

A new AD/CVD petition was officially filed on April 24, 2024, against Cambodia, Malaysia, Thailand, and Vietnam. Although preliminary anti-dumping determinations for this case are not expected until Q4 of this year, additional duties could be applied retroactively as early as May-June 2024 if critical circumstances are found and the case is fast-tracked.

Over the past three months, the median price of solar modules has experienced a notable decline. From February to May 2024, the median module price dropped from 27.9 cents per watt to 25 cents per watt, marking an 11% decrease. The most substantial change occurred between February and March 2024, when prices fell by 2.5 cents or 8.6%. Factors driving these trends include advancements in TOPCon manufacturing and increased competition from foreign suppliers

When looking at the difference between April and May, pricing has started to creep back up, at about 2%. Although small, this is the first time since late 2022 that increases from suppliers have been seen, which Anza said is likely in response to the new trade regulations.

When comparing the trends of different solar technologies, TOPCon and Mono PERC have both seen substantial price decreases over the past three months. TOPCon prices fell from 29 cents per watt in February to 25.5 cents per watt in May 2024, a 3.5-cent or a 12.8% reduction. Similarly, Mono PERC
prices dropped from 26.5 cents to 22.8 cents per watt, a 3.7-cent or 15% decrease. Although TOPCon remains slightly more expensive than Mono PERC, with the average price difference remaining around 2 cents from February through April, the gap began to widen in May.

While still maintaining a higher price point, Tier 1 modules are now slightly closer in cost to Non-Tier 1
modules compared to February. Tier 1 module prices dropped from 29 cents per watt to 25 cents per watt, marking a 4-cent or 14.8% decrease. Meanwhile, Non-Tier 1 module prices fell from 25 cents to 24 cents per watt, a 1 cent or 4.1% reduction.

“After years of record low pricing, we’re seeing the market start to rebound as domestic manufacturers have less pricing pressure from foreign producers that are subject to tariffs,” said Mike Hall, CEO of Anza. “We’re expecting to see this upward price trend continue from here, making it critical for new projects to consider current pricing and potential tariff impacts when sourcing materials.”

Anza’s Insights Report highlights ongoing data-driven trends in the solar module market that the company says have traditionally been siloed or hard to access, including the impact of competition, shifting costs in solar cell technology, and the impacts of government incentive programs and international tariffs.

To access the full pricing data from Anza’s latest Pricing Insights Report, subscribe here.

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