Aids Transparency in Technology Pricing as
Solar Modules Become Increasingly Commoditized
SINGAPORE and NEW
YORK and LONDON,
July 17,
2024 /PRNewswire/ -- Platts, part of S&P Global
Commodity Insights, the leading independent provider of
information, data, analysis, benchmark prices and workflow
solutions for the commodities, energy, battery metals and energy
transition markets, has launched the world's first independent
daily, spot market solar photovoltaic (PV) panel price assessments
for US, Europe and Asia. In addition to six individual
Platts Solar Module prices, Platts will also publish the Platts
Global Solar Module Marker, which is a daily average of the six
individual assessments, and which will provide a global perspective
of solar panel prices.
Edurne Zoco, Executive
Director of Analysis, Clean Energy Technology, S&P Global
Commodity Insights, said: "Solar PV will be the most
installed energy source for the next decades, with S&P Global
Commodity Insights forecasting more than 4 terawatts direct current
(TWdc) of new installations before 2030, which equates to three
times the total power generation capacity of the US today.
Furthermore, solar will account for nearly 40% of new power
generation capacity globally by 2050. Solar modules have become one
of the most sought-after commodities in the increasingly
competitive energy markets."
With the exponential growth in the manufacture, trade and
installation of solar modules, industry and market interest in an
independent, transparent source of physical market solar module
pricing has expanded accordingly. After receiving feedback from the
market, S&P Global Commodity Insights is now offering six new
daily price assessment reflecting the value of bifacial solar
modules procured for commercial and industrial (C&I) and
utility scale renewable energy projects.
The new spot physical market price assessments of solar modules
of differing megawattage (MW) and delivered duty paid (DDP) or free
on board (FOB) include:
- Platts Solar Module FOB China 5-50 MW, reflecting 10-30
days forward free on board (FOB) Shanghai, China
- Platts Solar Module FOB China 50-100 MW, reflecting
10-30 days forward free on board (FOB) Shanghai, China
- Platts Solar Module DDP Europe 5-50 MW, reflecting 28-70 days
forward delivery to Rotterdam,
Europe
- Platts Solar Module DDP Europe 50-100 MW, reflecting 28-70 days
forward delivery to Rotterdam,
Europe
- Platts Solar Module DDP US 5-50 MW, reflecting 28-60
days forward for delivery to US East Coast
- Platts Solar Module DDP US 50-100 MW, reflecting 28-60
days forward for delivery to US East Coast
- Platts Global Solar Module Marker is a daily average of
the six individual solar module panel assessments, which will
provide a global perspective of solar panel prices
The Platts Solar Module price assessments reflect solar modules
with 570 -720 watts (W) of output. Topcon specification and wafer
sizes of 182-210 mm for volumes of 5 megawatt (MW) up to 50 MW, and
50 MW up to 100 MW. The value reflects solar modules,
expressed as an outright price in US cents per watt.
Annalisa Jeffries, Global
Head, Electricity Power Pricing, S&P Global Commodity
Insights: "We take seriously our commitment to help the
marketplace and industry find solutions to pricing challenges and
we're pleased to heed the call and bring transparency to the solar
module market, which is becoming more commoditized and is
increasingly important to energy transition planning. We bring our
100-year-plus experience in price assessment methodology to a new
use, in this electricity-producing technology, at a time when the
marketplace is seeking a recognized benchmark provider."
The price assessments, announced by subscriber note, will
follow the Platts Market-on-Close methodology based on the concept
that price is a reflection of time. All market pricing indications,
such as bids, offers and transactions, will be published in
real-time throughout the full-day Platts price assessment process,
which culminates in an end-of-day price assessment reflecting the
value as determined by buyers and sellers in the open market at the
4:30 pm London market close. For more details visit
this link.
Importation duties, oversupply, and supply chain costs have led
to significant solar module pricing volatility, particularly since
the start of 2023.
The new spot market Platts solar module panel DDP and FOB price
assessments are available via S&P Global Commodity Insights
products and services, including such as Platts Connect, Platts
Market Center, and the Platts price database.
The new spot market Platts Solar Module prices augment S&P
Global Commodity Insights' pre-existing Platts spot physical market
electricity prices, which have been published for decades, as well
as the more recent Platts Capture Prices – what the renewable
energy generators receive for the electricity they produce across a
daily period -- which were launched in 2018 in Europe and 2020 in the US.
Media Contacts:
Americas: Kathleen Tanzy + 1
917-331-4607, kathleen.tanzy@spglobal.com
EMEA: Paul Sandell + 44 (0)7816 180039, paul.sandell@spglobal.com
Asia: Melissa Tan
+ 65-6597-6241, melissa.tan@spglobal.com
About S&P Global Commodity Insights
At S&P Global Commodity Insights, our complete view of
global energy and commodity markets enables our customers to make
decisions with conviction and create long-term, sustainable
value.
We're a trusted connector that brings together thought leaders,
market participants, governments, and regulators and we create
solutions that lead to progress. Vital to navigating commodity
markets, our coverage includes oil and gas, power, chemicals,
metals, agriculture, shipping and energy transition.
Platts® products and services, including leading
benchmark price assessments in the physical commodity markets, are
offered through S&P Global Commodity Insights. S&P Global
Commodity Insights maintains clear structural and operational
separation between its price assessment activities and the other
activities carried out by S&P Global Commodity Insights and the
other business divisions of S&P Global.
S&P Global Commodity Insights is a division of S&P
Global (NYSE: SPGI). S&P Global is the world's foremost
provider of credit ratings, benchmarks, analytics and workflow
solutions in the global capital, commodity and automotive markets.
With every one of our offerings, we help many of the world's
leading organizations navigate the economic landscape so they can
plan for tomorrow, today. For more information visit
https://www.spglobal.com/commodityinsights.
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SOURCE S&P Global Commodity Insights