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Weekly Price Analysis – Edition 16th Nov 2020

Indian Cell and Module Market – Current Demand & Supplies

The solar global supply chain has been constrained due to severe shortage of PV glass and appreciation of CNY. The resurgence of numbers in COVID patients has been further becoming another worrisome issue for the global solar industry. However, the global supplies of polysilicon for multicrystalline and monocrystalline have remained intact. In India, most of the country is in a festive mood due to Diwali vacation. The BCD enigma has not only been shadowing the expansion plans of new solar manufacturing capacities but also severely impacting the new PV installations in the country.

Imported Supplies

The rising CNY against the dollar has been impacting the prices of imported solar cells and modules along with rising input material costs like PV glass, EVA, silver paste, Al frames etc. The Chinese 18.6% to 18.9% multicrystalline solar cells are priced in the range of USD 0.32 to USD 0.33 per pc FOB China basis. The imported mono PERC Cells are available in the price range of USD 0.10 to USD 0.11 per watt FOB China basis. Further the prices of imported 335/340 watt multicrystalline PV modules have jumped to the levels of USD 0.178/ USD 0.18 per watt FOB China. The mono PERC 420 watt and above modules are available in the range of USD 0.218 to USD 0.225 per watt FOB China basis.

Local Manufacturing

Most of the solar local manufacturing factories will start operations from Tuesday due to the Diwali festival. The manufacturing activity of solar cells and modules should remain impacted due to sluggish demand. Further, the module manufacturing units like Jakson (total planned capacity- 500 MW) have been finalizing the equipment for expansions. The ongoing cell expansion/green field projects of Tata and Premier respectively are at brisk pace.

Demand

The demand for locally manufactured solar cells and modules in the country has been majorly driven by DCR projects of state and central governments across the country under the gigantic schemes like KUSUM and CPSU. The ups and downs in demand under these projects is only temporary due to governmental procedures or some legal intangles. The rise in use of captive consumption of solar energy by the industrial and commercial undertakings as the main source has been changing the face of
manufacturing of solar sector in India.

Impact on Solar Cells and Solar Module Pricing

The dollar exchange rate has risen to the levels of Rs. 74.50 and is further expected to remain above Rs. 74 during the week. The bargained price of non-DCR indigenously made 330/335 watt modules has reached to new lows of Rs. 15.00 to Rs. 15.25 per watt by a few of top Indian module manufacturers, however, the mid range module manufacturers are trying to increase the price due to severe pressure of input costs. The price of locally manufactured 370/380 watt non-DCR mono PERC is between Rs. 18.50 to Rs. 19 per watt. The rising module inventories has been becoming a worrisome point for a few of the top players in the Indian solar market.

See you next week for the next analysis of the prices. Stay at work safely. Best Wishes. 

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