Solar Energy Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Solar Energy in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Solar Energy Trend for the First Half of 2023

The overall market for solar energy experienced a gradual fall in its prices due to the poor performance of the polysilicon industries. The most significant cause of this downfall of the solar energy market is the oversupply of polysilicon-based products in the Asia Pacific region. This excess influx not only raised the level of inventories but also increased the competitiveness of the market, due to which, in order to maintain their profit margins, the traders were forced to reduce their price quotations.

Solar Energy Trends

In addition to this, the consistent decline in the prices of wafers and cells further contributed to the downward journey of solar energy prices, especially in China. This availability of cheap alternatives has resulted in the stabilization in the rates of imports in India, which has given the Indian solar energy sector a boost. However, on the other hand, as compared to the past year, the level of imports has failed to match its ultimate potential as domestic production in India has lowered its dependency on Chinese industries, further hampering the price trend of solar energy.

Analyst Insight

According to Procurement Resource, the prices of Solar Energy are expected to follow an uncertain path as its demand globally seems to rise, but with the rise in domestic production in Asia and excess supply of polysilicon, the price trend of solar energy will struggle.

Solar Energy Trend for the Second Half of 2022

By achieving new world records for both the use of clean power and coal-fired electricity emissions in 2022, China affected the green energy market significantly. It has become the world's largest deployer of renewable energy from January through October 2022. According to statistics, China is on course to generate significantly more amount of green energy given to its increasing demand in the region than any other nation.

However, the region limited its export of advanced solar technology, hurting the market sentiments. The proposed ban would impede Chinese solar equipment makers' aspirations to expand abroad, particularly in Southeast Asia, where they aim to establish productive integrated wafer-to-solar panel production lines.

Following a similar trend, the US also imposed tariffs on the imports of solar devices. These new policies were introduced to boost domestic production but are expected to hamper the prices of solar energy-producing equipment in the long run.

Analyst Insight

Given the current market dynamics the prices of Solar energy are expected to oscillate in the coming months. The rise in awareness and pressure to adopt renewable sources of energy will drive the price trend of solar energy in a positive direction but the sanctions and restrictions being imposed by nations of export-import activities will try to keep the trend in a negative direction.

Solar Energy Trend For the First Half of 2022

With the soaring prices of raw materials, commodity inflation and custom duty the cost of solar power installation has gone up in India making it unviable for the manufacturers and consumers. In India, the prices of domestic solar panels have gone up by 50% averaging above 30 INR/watt.

The trade restrictions due to the Russia-Ukraine war coupled with the basic custom duty announced by the government on April 1 further worsened the situation. Imports of solar modules attracted a basic custom duty of 40% while that of solar cells attracted a 25% duty.

India has a solar cell manufacturing capacity of 3GW per year but is still dependent on China for the import of polysilicon, wafers, and ingots. The expensive logistics and the 40% import duty caused the prices of solar energy to increase in the Indian market. The solar tariffs are set to increase by more than 1/5 towards the end of the said year owing to the tariff calculation scheme introduced by the government.

The base case scenario, which includes duty-free import modules attracted a tariff of 2.43 INR/kWh. With module imports subjected to basic custom duty, the tariff would be 2.95 INR/kWh and if a developer can procure domestic modules, the tariff would be INR 2.26 INR/kWh. Hence, the price trend for solar energy tipped towards the higher side of the scale during the said period.

Procurement Resource provides latest prices of Solar Energy. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

Sample Dashboard

Please Login or Subscribe to explore our dashboard.


Solar energy refers to the production of electricity or power from radiant light and heat from the sun by harnessing the same using a range of ever-evolving technologies like solar heating, solar thermal energy, photovoltaics, solar architecture, molten salt power plants as well as artificial photosynthesis. It is a renewable energy source, which if suitably harnessed, has the potential to satisfy all future energy needs.

Product Details

Report Features Details
Product Name Solar Energy
Synonyms Solar power
Industrial Uses Biofuel/clean fuel source, Electricity, Solar dryers, Solar water heaters, Space heating and cooling systems
Supplier Database Canadian Solar, Trina Solar Co., Ltd, Noor Power Station, Kurnool Ultra Mega Solar Park, Longyangxia Dam Solar Park, Kamuthi Solar Power Project, First Solar, Inc., JinkoSolar Holding Co., Ltd, Tata Power Solar Systems Ltd, Conergy Energy Systems (India) Pvt. Ltd.
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery

Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Production Process

  • Production of Solar Energy via Solar Panels

Solar panels work by absorbing sunlight using photovoltaic cells that generate DC energy. Then, the energy is converted into usable energy form, that is, AC energy with the help of inverter technology.


The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

Assistance from Experts

Procurement Resource is a one-stop solution for businesses aiming at the best industry insights and market evaluation in the arena of procurement. Our team of market leaders covers all the facets of procurement strategies with its holistic industry reports, extensive production cost and pre-feasibility insights, and price trends dynamics impacting the cost trajectories of the plethora of products encompassing various industries. With the best analysis of the market trends and comprehensive consulting in light of the best strategic footstep, Procurement Resource got all that it takes.

Client's Satisfaction

Procurement Resource has made a mark for itself in terms of its rigorous assistance to its clientele. Our experienced panel of experts leave no stone unturned in ensuring the expertise at every step of our clients' strategic procurement journey. Our prompt assistance, prudential analysis, and pragmatic tactics considering the best procurement move for industries are all that sets us apart. We at Procurement Resource value our clients, which our clients vouch for.

Assured Quality

Expertise, judiciousness, and expedience are the crucial aspects of our modus operandi at Procurement Resource. Quality is non-negotiable, and we don't compromise on that. Our best-in-class solutions, elaborative consulting substantiated by exhaustive evaluation, and fool-proof reports have led us to come this far, making us the ‘numero uno' in the domain of procurement. Be it exclusive qualitative research or assiduous quantitative research methodologies, our high quality of work is what our clients swear by.

Related News

Table Of Contents

Our Clients


Get in Touch With Us


Phone:+1 307 363 1045


Phone: +91 1203185500


Phone: +44 7537 132103



Get latest News About Procurement Resource
Subscribe for news

This site uses cookies (including third-party cookies) to record user’s preferences. See our Privacy PolicyFor more.