Solar photovoltaic module price
Average price of solar modules, expressed in US dollars per watt, adjusted for inflation.
Recent trends in solar EPC costs vary across segments. Utility-scale projects have seen EPC costs decline to around Rs 34 million-Rs 38 million per MW, driven by competitive bidding and economies of scale, with tariffs averaging Rs 2.56 per kWh.
Average price of solar modules, expressed in US dollars per watt, adjusted for inflation. Data source: IRENA (2025); Nemet (2009); Farmer and Lafond (2016) – Learn more about this data Note: Costs are expressed in constant 2024 US$ per watt.
Note: Costs are expressed in constant 2024 US$ per watt. Global estimates are used before 2010; European market benchmarks thereafter due to limited data availability. Solar photovoltaic module prices refer to the cost of the solar panel itself, and do not include installation or other system components.
Currently, solar EPC contractor margins are in the range of 8-12 per cent, but intense competition and aggressive bidding have compressed them in recent years. With input costs fluctuating and quality expectations rising, maintaining profitability demands operational efficiency and value-driven execution.
Average price of solar modules, expressed in US dollars per watt, adjusted for inflation.
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