SMM Analysis: Solar Panel Bid Winning Price Slumps Amid Cut-Throat Competition

SHANGHAI, Sep 6 (SMM) –Looking at the development of the PV industry from the beginning of 2023 to the present, the prices of polysilicon, silicon wafers, solar cells, and solar panels in the PV industry chain experienced great ups and downs, falling from the top to the bottom. The wave of price cuts initiated at the polysilicon end in February quickly spilled over into the silicon wafer, solar cell, and ultimately the solar panel segments in the first half of the year. Substantial price reductions in solar panel prices mainly occurred from June to July. According to SMM quotations, the current price range of PERC182 bifacial solar panel dropped to 1.16-1.29 yuan/watt, a decrease of 30.1% compared with the beginning of the year. The competition in the solar panel market is intense this year. Judging from the collective procurement prices of solar panels, the bid winning prices have shown a downward trend this year. The current average bid winning price has dropped by 33.1% compared with the beginning of the year.

This year's decline in solar panel prices significantly increased the profit margins of terminal PV projects, which was beneficial to the development of photovoltaic projects. It increased the development willingness of PV project developers, and the newly installed capacity exceeded expectations. Regarding the subsequent trend of winning bid prices, and based on optimistic expectations for increasing PV capacity installation demand from September to November, as well as the stabilization of upstream raw material prices, the winning bid price of solar panels ias expected to be largely stable, with limited downside room, and terminals will also be cautious about low-priced solar panels.