The price of M10 wafers in China increased slightly while other solar wafer prices stayed stable throughout the week. Mono PERC M10 wafers climbed to $0.145 per piece, and n-type M10 wafers increased to $0.151 per piece. These changes reflect week-on-week price hikes of 0.69% and 1.34%, respectively.
Rising Demand in China Driving Prices Up
A surge in solar installation projects within China is the main driver of this price rise. As such, fewer wafers are available for export. Additionally, two new solar policies set for launch in May and June have further fueled procurement activities. This is leading to supply shortages which has forced major cell manufacturers to obtain long-term commitments from main wafer producers.
For now, wafer prices are expected to remain stable throughout the second quarter. However, demand for photovoltaic products is expected to decline in third quarter, ones the new policies come into effect, and when that happens the wafer prices will automatically come down.
Production Trends and Global Market Developments
Mono PERC wafer production has increased, driven by patent challenges affecting TOPCon and BC cell production. This makes Mono PERC a less risky alternative for manufacturers. Internationally, a Cambodian company will soon launch a 2 GW ingot production facility, currently supported by Chinese-sourced ingots.
Furthermore, India’s Ministry of New and Renewable Energy (MNRE) tightened domestic content requirement (DCR) rules. The new policy restricts the use of imported diffused wafers in locally manufactured solar photovoltaic cells. The aim is to reduce reliance on semi-processed imports, encouraging Indian manufacturers to invest in in-house cell production equipment.
Reference- PV Magazine,MNRE website, Mercom India