Platts, a division of S&P Global Commodity Insights, has introduced the world’s first independent daily spot market price assessments for solar photovoltaic (PV) panels covering the US, Europe, and Asia. These assessments include six individual Platts Solar Module prices and the Platts Global Solar Module Marker, a daily average of the six assessments, providing a global perspective on solar panel prices.
Solar PV Growth and Market Dynamics
Edurne Zoco, Executive Director of Analysis for Clean Energy Technology at S&P Global Commodity Insights, highlighted the significant growth potential for solar PV, predicting over 4 terawatts direct current (TWdc) of new installations by 2030, which is three times the current total power generation capacity of the US. Solar is expected to account for nearly 40 percent of new power generation capacity globally by 2050, making solar modules increasingly crucial in competitive energy markets.
New Price Assessments and Market Transparency
In response to the growing demand for an independent, transparent source of physical market solar module pricing, S&P Global Commodity Insights now offers six new daily price assessments for bifacial solar modules used in commercial, industrial, and utility-scale renewable energy projects. These assessments cover different megawattage (MW) ranges and delivery terms, including:
Platts Solar Module FOB China 5-50 MW
Platts Solar Module FOB China 50-100 MW
Platts Solar Module DDP Europe 5-50 MW
Platts Solar Module DDP Europe 50-100 MW
Platts Solar Module DDP US 5-50 MW
Platts Solar Module DDP US 50-100 MW
Platts Global Solar Module Marker, a daily average of these six assessments, will offer a comprehensive view of global solar panel prices. These price assessments reflect solar modules with 570-720 watts (W) of output, using Topcon specification and wafer sizes of 182-210 mm for volumes ranging from 5 MW up to 100 MW, expressed in US cents per watt.
Commitment to Market Transparency
Annalisa Jeffries, Global Head of Electricity Power Pricing at S&P Global Commodity Insights, emphasized the company’s dedication to providing transparent pricing solutions in the increasingly commoditized solar module market. Leveraging over 100 years of experience in price assessment methodology, Platts aims to support energy transition planning with recognized benchmarks.
Methodology and Market Impact
The new price assessments will follow the Platts Market-on-Close methodology, reflecting real-time market pricing indications throughout the day and culminating in an end-of-day price assessment at the 4:30 pm London market close. This initiative addresses significant solar module pricing volatility driven by importation duties, oversupply, and supply chain costs since early 2023.
The Platts solar module panel DDP and FOB price assessments are available through various S&P Global Commodity Insights platforms, including Platts Connect, Platts Market Center, and the Platts price database.