About European imported photovoltaic panel prices
Rystad noted that in the first eight months of 2023, Europe imported approximately 78 GW of solar modules, a figure which surpassed anticipated installations for the entire year.
Rystad noted that in the first eight months of 2023, Europe imported approximately 78 GW of solar modules, a figure which surpassed anticipated installations for the entire year.
2.3 Europe’s solar-panel dilemma: cost-efficiency vs geopolitical resilience. More than 90 percent of solar panels deployed in the EU are still imported from China, primarily because of their low price. In 2022, Chinese solar panels were estimated to be the cheapest in the world at $0.26/watt (Woodhouse et al, 2021). Solar panels produced in .
In 2023, the EU imported solar panels to the value of €19.7 billion, liquid biofuels to the value of €3.9 billion and wind turbines worth €0.3 billion (see Figure 1). The EU import values of solar panels and liquid biofuels in 2023 were much higher than the corresponding EU export values which were €0.9 billion for solar panels and €2 .
IRENA presents solar photovoltaic module prices for a number of different technologies. Here we use the average yearly price for technologies 'Thin film a-Si/u-Si or Global Price Index (from Q4 2013)'.
In 2023, the solar photovoltaic sector in the EU and globally saw the prices of the panels plummet from circa 0.20 €/W to less than 0.12 €/W. This unsustainable situation is weakening the viability of existing European production and jeopardises planned investments for new manufacturing plants announced over the last 2 years.
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6 FAQs about [European imported photovoltaic panel prices]
Are European solar panels made in China?
The European solar revolution is, and will continue to be, predominantly ‘made in China’ This European solar revolution is, and will continue to be, predominantly ‘made in China’. In 2022, over 95 percent of Europe’s solar panels came from China 3 , which has established itself as the global hub for solar PV manufacturing (IEA, 2023).
Are Chinese-manufactured solar panels putting up in European warehouses?
Chinese-manufactured solar photovoltaic (PV) panels are piling up in European warehouses, with approximately 40 GW of capacity currently in storage – the same amount installed across the whole continent in 2022, according to new research from Rystad Energy.
Are Chinese solar panels worth more than European solar panels?
In 2012, the European Commission initiated a major investigation and determined that the appropriate value of a Chinese solar panel sold in Europe ought to be 88 percent higher than its then selling price 9 .
Does the EU have a competitive advantage in solar PV production?
When it comes to economic growth, it is difficult to expect solar PV manufacturing to provide a major contribution, given that the EU has no comparative advantage in producing the existing generation of solar panels, and it is not clear where any unrealised advantage might lie. Source: Bruegel based on Ignaciuk (2023).
Why are China's solar panels exported to Europe?
Notably, around 80 percent of China’s solar panels were exported to the European market during this period (Cao and Groba, 2013), driven by the generous feed-in-tariffs provided by EU governments to accelerate the deployment of solar energy (Grau et al, 2012).
Should solar panels be imported?
However, for the solar sector specifically, there is no strong economic justification for an import-substitution approach. Such a strategy risks increasing the costs of solar panels, slowing deployment and creating industries that are over-reliant on subsidies.