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Weekly Price Analysis – Edition 30th Nov 2020

Indian Cell and Module Market – Current Demand & Supplies

The global solar supply chain has been once again facing demand issues. This has been evident from the prices of major input costs except supplementary materials like glass. Internationally the prices of polysilicon and wafers have started softening once again though PV glass prices have been stabilizing since last week. The conditions at international borders of China and India are still tense which could impact the solar business in case of any extreme circumstances. The virtual RE-INVEST has been concluded successfully with much fanfare for attracting investments in the manufacturing sector of India. The specific guidelines of PLI scheme for manufacturing of photovoltaics in the country are yet to be issued by the MNRE. The imposition of Basic Customs Duty (BCD) on import of solar products may be announced by the year end.  

Imported Supplies

The prices of imported solar cells and solar modules have been stabilized to some extent. The imported multicrystalline solar cells of efficiency if 18.6% to 18.9% are available in the price bracket of USD 0.32 to 0.33 per pc FOB China basis. The prices of imported mono PERC cells are hovering between USD 0.101 to USD 0.11 per watt FOB China basis. Further, the imported 72 cell PV modules 335/340 watt are available in the price range of USD 0.179 to USD 0.185 per watt FOB China basis. The PV modules in higher ranges of wattages like mono PERC 420 watt and above are available in the price range of USD 0.221 to USD 0.225 watt FOB China. Further, the imports of solar cells, modules and other materials are severely hit due to shortage of vessel space at the moment.   

Local Manufacturing

The local module manufacturers have been cautiously utilizing the production capacities due to high stocks and dormant demand at the moment. The majority of the manufacturers of PV modules have been producing against the orders at the moment. Further, the issue of visas to Chinese engineers has been more or less resolved. This would ease out the situation for the ongoing projects of cell and module lines like CETC, Premier and Vikram Solar. 

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Demand

The demand for solar cells and modules has been languishing due to low spending allocations by the private sector at the moment. The Govt tender projects have also been lagging behind their schedule to COVID conditions in many parts of the country. The commercial and industrial sector demand for solar energy has been somewhat a driving force in the market at the moment.

Impact on Solar Cells and Solar Module Pricing

The dollar exchange rate has been hovering around Rs. 74. The locally manufactured non-DCR 330/335 watt solar modules are available in the price range of Rs. 15.80 to Rs. 16 per watt though there is still pressure to offload the large inventories at lower prices. The price of locally manufactured 370/380 watt non-DCR mono PERC is between Rs. 18.50 to Rs. 18.75 per watt. However, the prices of 330/335 watt DCR modules have been hovering between Rs. 19.25 to Rs. 19.50 per watt. The brands like Adani have been selling both non-DCR and DCR modules at premium.

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

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