PV PMI (Purchasing Managers’ Index) score remained above 70 points, with almost 60 percent of buyers planning to buy more in April than they did in March.
pv.index summarises average transactional prices from sun.store – the biggest solar trading platform in Europe. The PV Purchasing Managers' Index (PMI) is a result of a monthly survey filled by more than 300+ sun.store buyers, measuring overall demand outlook in the industry.
In March, there was a noticeable uptick in average trading module prices across primary product categories. monofacial module prices climbed from 0.124 to 0.129 euros/Wp, and bifacial modules experienced a more pronounced rise from 0.124 to 0.141 EUR/Wp.
This resurgence in prices can be attributed to several factors. March is traditionally the onset of the installation season, resulting in higher demand among installers. Meanwhile, European distributors have substantially cleared their warehouses of excess stock over the winter.
Consequently, the prices of the most sought-after PV products were experiencing an upward trajectory. This was particularly noticeable for modules for C&I installations (monofacial and bifacial modules 450-550 Wp) and ground- mounted utility projects (bifacial modules 550 Wp+).
Demand for residential panels remained sluggish, as exemplified by full black modules. Here, a slight price dip from 0.132 to 0.131 was recorded.
“2024 is poised to be another year of challenges and opportunities as the landscape rapidly evolves” said Daan van Lin, International Sales Manager at SolarToday Franchise B.V., during a recent debate organised by sun.store. “We are transitioning from a period of panel oversupply across the board to shortages in select categories.”
Jinko Solar remained the most frequently purchased module brand on sun.store, maintaining a top stop held since December 2023.
Despite the recorded price growth, the buyers maintain a positive outlook. The PV PMI (Purchasing Managers’ Index) registered a score of 71. Despite a slight 2-point decrease in buyers’ sentiment compared to the previous month, the score above 70 points signifies an expansion phase of the cycle.
“Almost 60 percent of buyers participating in our survey stated that they expect to buy more in April than in March” added Agata Krawiec-Rokita, sun.store CEO. “This contrasts with the PMI score for other industries in the EU and emphasises the importance of the renewable industry as one of few remaining growth engines for the economy in our continent.”
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