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PV module suppliers switch tactics as wafer prices fall 70%

April 11, 2012 // Julien Happich

PV module suppliers switch tactics as wafer prices fall 70%

The average price of photovoltaic (PV) wafers in the first quarter of 2012 fell by more than 70 percent in a year according to the latest research released by IMS Research.


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This dramatic price collapse, caused by a global oversupply, has significantly changed the cost structures and strategies of leading PV module suppliers and making many switch from in-house production to buying in their wafer supply. Throughout 2010 and 2011, many suppliers had quickly expanded their in-house wafer capacities. However, as wafer prices have fallen by over $0.70/W to record lows, suppliers are now reducing their in-house manufacturing and purchasing more wafers from third-party suppliers.

According to IMS Research's latest quarterly 'PV Modules, Cells, Wafers & Polysilicon - Supply & Demand', average wafer prices fell to $0.30/W in the first quarter of 2012, having stood at just over $1/W one year ago. This rapid decline in prices was driven by severe oversupply and highly competitive market conditions caused by huge capacity expansions that far out-weighed demand growth in 2011. IMS Researchs report reveals that global PV wafer capacity grew by 50 percent to reach 50 GW by the end of 2011, whilst installation demand grew just 35 percent to 26.9 GW. The average price of polysilicon, cells and modules also dived throughout 2011, although less severely than wafers, with average prices in the first quarter declining by 48 percent, 57 percent and 44 percent year-on-year respectively.

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