Weekly Update on Photovoltaic Supply Chain Prices as of May 7, 2025

On May 7, InfoLink Consulting released the latest prices for the photovoltaic supply chain. The price announcement includes the following key points:

• As of May, the public price listings for P-type silicon wafers and PERC modules in both RMB and USD have been canceled.
• The public price listing for PERC cell prices in RMB has also been canceled.

Changes in regional module prices include:

• In India, locally produced modules have switched to TOPCon products, and the export prices from China have been removed.
• In the United States, the announcement of PERC module prices has been canceled, and prices for locally produced TOPCon modules have been added.
• In Europe, the announcement for PERC module prices has been canceled.

On May 8, the silicon industry association reported the latest silicon wafer prices. This week, silicon wafer prices are under pressure and declining. The average transaction prices for N-type G10L monocrystalline silicon wafers (182*183.75mm/130μm) is 1.01 RMB per piece, a week-on-week decrease of 9.82%. N-type G12R monocrystalline silicon wafers (182*210mm/130μm) have an average price of 1.12 RMB per piece, down 13.85% compared to the previous week. The average price for N-type G12 monocrystalline silicon wafers (210*210mm/130μm) is 1.35 RMB per piece, reflecting a 7.53% weekly decline.

On the same day, TrendForce published the latest prices for the photovoltaic supply chain. The mainstream transaction prices for N-type re-investment materials this week is 39 RMB/KG, while N-type dense materials are being traded at 37 RMB/KG and N-type granular silicon at 35.5 RMB/KG. The trading conditions indicate a continued contraction in silicon material transactions. Many manufacturers have reported prices that fall below their production costs, leading to limited acceptance of these low prices.

The market dynamics for silicon materials indicate that transactions are slowing down post the May Day holiday, with negotiations having been postponed. New small transactions are now close to the buyer’s asking price of approximately 36-37 RMB per kilogram.

This week, there have been no transactions reported for rod silicon enterprises. The pricing for N-type granular silicon ranges between 35,000 to 37,000 RMB/ton, with an average price of 36,000 RMB/ton, reflecting a decrease of 2.70%. The market for rod silicon remains stagnant, with enterprises reporting minimal transactions. Currently, downstream purchasing has diminished, with companies opting for small, scheduled restocking based on production rhythm.

According to the latest report from TrendForce on May 7, the prices for silicon materials have overall decreased. The mainstream transaction prices for N-type re-investment materials have dropped to 39 RMB/KG, with N-type dense materials at 37 RMB/KG and granular silicon prices falling from 36 RMB/KG to 35.5 RMB/KG, a decrease of 1.39%. This week, the latest price for N-type 182 monocrystalline silicon wafers is 1.02 RMB per piece, down from 1.05 RMB per piece last week, indicating a decline of 2.86%.

On April 29, the silicon industry association announced the latest prices for photovoltaic glass, which have remained stable. According to TrendForce’s report dated April 23, the prices for N-type re-investment materials were 40 RMB/KG, reflecting a decrease of 2.44%. N-type dense materials dropped from 40 RMB/KG to 38 RMB/KG, a change of -5%. The price for N-type granular silicon has decreased to 37 RMB/KG. Non-China region prices for polysilicon have varied, with the latest price at 18.5 USD/KG.

On May 8, the Jiangsu Provincial Development and Reform Commission announced that the district of Suqian has approximately 1.67 GW of distributed photovoltaic capacity available for May 2025. This was part of the ongoing efforts to develop renewable energy in the region.

Additionally, the Yunnan Provincial Government has issued a notification supporting the integration of photovoltaic projects along highways, allowing highway operators to utilize existing properties and land resources for solar power generation.

In Xinjiang, the Changji Prefecture plans to enhance its renewable energy capacity by developing wind and solar projects. A recent planning document encourages the use of clean energy sources to replace fossil fuels.

Moreover, the Dali region in Yunnan has released competitive bidding results for renewable energy projects, awarding multiple wind and solar project contracts totaling 1 GW of capacity.