China Datang, one of the largest Chinese electric power companies, has announced a large-scale procurement of solar photovoltaic modules for 2025–2026. The total procurement volume will amount to 22.5 GW, which highlights the growing demand for modern solar energy technologies. As part of the tender, the company plans to purchase:

• 19.5 GW of TOPCon modules — this is the most popular technology today, characterized by high efficiency and relatively low production costs.
• 2 GW of heterojunction (HJT) modules — a technology that combines high efficiency and stability, but remains more expensive.
• 1 GW of BC (back contact) modules — a less common technology, but with potential for efficiency improvement.

It is noteworthy that the procurement list does not include PERC modules, which were market leaders just a few years ago. This indicates rapid technological development in the industry and the transition to more modern solutions.

Price bids

• TOPCon: 44 companies submitted bids with prices ranging from 0.66 RMB/W (0.091 USD) to 0.832 RMB/W (0.114 USD), with an average price of 0.696 RMB/W (0.096 USD).
• HJT: 12 companies submitted bids ranging from 0.685 RMB/W (0.094 USD) to 0.979 RMB/W (0.135 USD), with an average price of 0.763 RMB/W (0.105 USD).
• BC: 5 companies bid from 0.73 yuan/W (0.100 USD) to 1.127 yuan/W (0.155 USD), with an average price of 0.839 yuan/W (0.115 USD).

CGN new energy tender

In parallel with China Datang, CGN New Energy, a unit of China’s CGN Nuclear Corporation, announced the results of a tender for the procurement of 10.5 GW of solar modules for 2025. The contracts are divided into two packages of seven segments, each with a volume of 1.5 GW. The winners were large manufacturers such as JinkoSolar, Longi, GCL SI and others. They will supply bifacial n-type solar panels with a capacity of at least 615 W. Prices range from 0.692 yuan/W (US$0.095) to 0.706 yuan/W (US$0.097).

Price dynamics

Solar panel prices in China are at historically low levels. For comparison, in July 2023, the cost was about 1.3 yuan/W, almost double the current price. This is due to fierce competition in the market and oversupply. Despite attempts by manufacturers to increase prices (for example, in November 2023), market conditions continue to put pressure on prices.

Industry regulation

The China Photovoltaic Industry Association (CPIA) has taken steps to stabilize the market by publishing a benchmark solar panel cost of 0.69 yuan/W (US$0.0953). This decision is aimed at preventing dumping and maintaining healthy competition.

Conclusions

China continues to lead the solar industry by actively implementing modern technologies such as TOPCon and HJT. PV module prices are at record lows, making solar energy even more competitive. The industry faces challenges related to oversupply and fierce competition, which requires regulation by associations and the government.