Hello there, fellow solar enthusiasts!
I am excited to delve into some important insights provided by the Anza Q2 Pricing Insights Report that shed light on the recent trends in the solar industry. Yes, you might have guessed it right. We’re talking about the unexpected price increase seen in the solar module market after several years!
Why the jump, you may ask? Well, this change is attributed to the aftermath of the AD/CVD petition and the reinstatement of import duties on bifacial panels. So if you’ve been exploring solar companies or thinking about solar panels for your home, you might want to take a close look at these pricing matters before you jump in.
For those who aren’t familiar with it, Anza is a solar and energy storage supply chain platform that contributes significantly to the solar module supply in the US. It provides invaluable information about market and regulatory changes influencing the solar industry. That’s why today, I wanted to share with you these findings that could have a significant impact on your solar array for home.
According to the report, the median module price experienced an 11% decrease from February to May 2024, going down from 27.9 cents to 25 cents per watt. But there was a plot twist. The prices surged by around 2% in May after the AD/CVD petition came into play. Even though it might appear as a small increase, it’s actually the first time since late 2022 we’ve seen the prices increase, which is indeed noteworthy.
I bet those of you considering solar arrays for home or even solar companies planning project budgets are sitting at the edge of your seats right now! It’s important to remember that these tariffs, including the recently reinstated one on bifacial solar modules, could influence costs. Previously exempt from tariffs, bifacial solar modules, which can generate electricity on both sides of the panel, will now be taxed a 15% tariff, potentially impacting your plans for a solar array for home.
On the bright side, the report also identified that the pricing gap between Tier 1 and Non-Tier 1 modules has closed a bit recently. While Tier 1 module prices experienced a 14.8% decrease, falling from 29 cents to 25 cents per watt, Non-Tier 1 prices saw a smaller reduction of 4.1%, moving from 25 cents to 24 cents per watt.
To wrap things up, I’d encourage you to stay informed and be mindful of these market trends as you navigate your solar journey. Although a slight price increase might not seem too overwhelming, it’s crucial to factor these changes into your decisions, especially if you’re contemplating solar panels for your home or if you’re part of the solar companies watching the market.
Keep this data in mind and journey on, solar soldiers! Let’s continue striving for a greener and brighter future, one solar panel at a time!
Original Articlehttps://pv-magazine-usa.com/2024/06/12/solar-module-prices-increase-for-first-time-in-years-anza-reports/
