PVTIME – The latest PV.index analysis by Sun.store confirms sustained price growth for full-black, back-contact and monofacial TOPCon solar modules across the European market until 2026. Industry buyers are adopting increasingly prudent procurement strategies. In stark contrast, bifacial TOPCon modules have displayed significant price instability. The average price of bifacial TOPCon products increased steadily from €0.088/W in December 2025 to €0.125/W in May 2026, surpassing the price of monofacial TOPCon modules before the market declined sharply. By July 2026, the average price had dropped to €0.11/W, the lowest recorded price for all European module categories since February 2026.
The study correlates module price movements with the sun.store PV Purchasing Managers’ Index, a sector confidence metric derived from user surveys. A score of 50 and above indicates projected industry growth, with the majority of market participants surveyed ruling out a significant downturn in the sector. Nevertheless, the index has consistently declined since May 2026, falling from a 12-month peak of 70 to 65 in July. This latest reading exceeds the historic low of 62 recorded in December 2025, yet falls below the figure of 69 recorded in January 2026 and the platform’s long-term average of 67. The proportion of stakeholders planning to expand their short-term module procurement also fell, from 52% in January 2026 to 46% in July.
Despite a landmark renewable energy achievement for Europe, heightened market uncertainty prevails. Ember, an independent energy research body, verifies that solar power contributed 25% of the region’s monthly electricity generation in June 2026, representing an all-time high for solar penetration. The latest quarterly inverter market data from sun.store shows that German manufacturer SMA Solar advanced one position to rank third globally in string inverter production, improving on its fourth-place finish in the previous quarter.
Chinese manufacturers continue to dominate the global string and hybrid inverter markets, exerting significant influence over European renewable energy supply chains. Therefore, the performance of European original equipment manufacturers has become integral for regional developers seeking alternative supply sources outside China. This strategic shift has been accelerated by European Commission regulations that restrict EU funding for energy projects using Chinese-manufactured inverters. Wood Mackenzie forecasts that this policy will impact 14% of Europe’s inverter supply capacity by 2030.
The regulatory framework is set to stimulate greater demand for European-produced inverters, supported by the region’s robust manufacturing infrastructure.
