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Weekly Price Analysis –Edition 21st Dec 2020

Indian Cell and Module Market – Current Demand & Supplies

The solar supply chain has witnessed upward price moments in polysilicon due to regained buying at year end closing. This has renewed chances of upbeat demand in coming time globally. However, no price change has been witnessed in the wafer prices following this trend.  The current demand for solar PV modules has remained lack luster world over due to precautionary spending by buyers.  In India, the current market conditions still remain uncertain due to price rise of input materials & logistical costs  coupled with low demand.  High stocks with some companies has become a point of grave concern.     

Imported Supplies

The imported supplies of solar cells and modules shall be curtailed due to Christmas and new year holidays along with severe shortages of vessel space. However, currently, the imported 18.6% to 18.9% multicrystalline solar cells are available in the price bracket  of USD 0.32 to 0.33 per pc FOB China basis. The prices of imported Chinese mono PERC cells are available at USD 0.11 per watt FOB China basis. The prices of Chinese solar modules have further started loosening the steam of price rise and are available in the price range of USD 0.174 to USD 0.18 per watt FOB China basis for  335/340 watt modules. Similarly, the mono PERC 420 watt and above PV modules have been showing a downward trend of price in the range of USD 0.215 to USD 0.218 per watt FOB China. However, this reduction shall not be reflected in the landed prices of modules in India as the sea freight costs are becoming staggeringly high. 

Local Manufacturing

The PV module manufacturing activity for DCR tenders in Gujarat has started once again. Though the margins have been becoming thin for small and medium scale in the market due to low bid pricing and increased input costs of PV glass, EVA and backsheet.  The board of Renew Power has approved the manufacturing plan of solar PV modules, however, its cell manufacturing would be taken up once the fate of BCD has been clarified by the Central Govt in early part of 2021. Further, there are minor delays in cell addition capacities by Tata, Premier and CETC. 


The demand for locally manufactured solar cells and modules is getting paralyzed once again due to high input costs of modules. The tussle between buyers and manufacturers for existing contracts has been becoming intense as the module conversion costs have risen to unexpected levels. 

Impact on Solar Cells and Solar Module Pricing

With dollar exchange rate roaming around Rs. 74, the prices of locally manufactured non-DCR 330/335 watt solar modules are priced between Rs. 16.00 to Rs. 16.50 per watt by the major module makers in India. The price of locally manufactured 370/380 watt non-DCR mono PERC are being quoted between Rs. Rs. 19.00 to 19.50 per watt. The companies which are holding large stocks of PV modules are desperate to liquidate at lower prices. The 330/335 watt DCR modules are being quoted between Rs. 19.75 to Rs. 20 per watt by largely SME players however, large manufacturers started quoting at Rs. 21 per watt. However, these prices look unrealistic due to low bid prices of solar systems. 

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

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