Market update · Europe
European PV Module Prices Decline Slightly in September 2026
In September 2026, PV module prices in Europe decreased across all technologies by 1.1% to 3.6%. TOPCon bifacial modules remain the cheapest option, while full black modules are the most expensive and experienced the slowest price decline. The top five suppliers remain unchanged, dominated by Chinese manufacturers. PV inverter prices showed mixed changes, with larger commercial units becoming more competitively priced. Demand for solar modules remains below historic averages but shows signs of steady interest.
SolTraCo market update · · 3 min readPV Module Price Trends
PV module prices in Europe fell across all technologies in September 2026, with decreases ranging from 1.1% to 3.6%. TOPCon bifacial modules continue to be the cheapest, while the price gap with TOPCon monofacial modules is narrowing. Full black modules are the most expensive and had the slowest monthly price decrease of 1.1%.
The average prices reflect these trends, with black contact modules averaging higher prices compared to other types.
Supplier and Inverter Market Overview
The top five PV module suppliers in Europe remain unchanged over the three months to September 2026, all being Chinese manufacturers, with Trina Solar leading, followed by Aiko and JA.
PV inverter prices showed mixed changes: smaller hybrid inverters (1-20kW) increased by 5.66 €/kW, while larger hybrid inverters decreased by 6%. String and on-grid inverters above 20kW experienced the highest price drop of 10%, mainly due to a shift in the mix of models traded rather than price cuts on individual products.
Solar Module Demand in Europe
Demand for solar modules in Europe remains below historic averages over the last three months, with the Purchasing Managers Index (PMI) rising slightly from 65 in August to 67 in September, just below the historical average of 68.
Survey data indicates that 47% of buyers plan to increase module purchases in October compared to September, 40% expect no change, and 13% plan to buy fewer modules.
Sources
This update is an original SolTraCo synthesis of the linked industry sources. Reported facts and commercial interpretation are kept separate. It does not contain confidential deal information and is not investment, legal or technical advice.