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					</table>Median platform prices for U.S. solar cells and modules were steady at approximately $0.5 per watt through April 2025, and then modestly declined by 2% to $0.49 per watt in July, according to a report by <a href="https://www.anzarenewables.com/" target="_blank" rel="noopener">Anza Renewables</a>.
Prices for modules assembled in the U.S. with imported cells rose over 12.5% from $0.32 per watt in March to $0.36 per watt in July. Imported module prices grew to $0.255 per watt in July, rising 8.5% from $0.235 per watt in winter.
<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/US-Solar-prices.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-82898 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/US-Solar-prices.png" alt="US Solar prices" width="958" height="498" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/US-Solar-prices.png 958w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/US-Solar-prices-300x156.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/US-Solar-prices-768x399.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/US-Solar-prices-650x338.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/US-Solar-prices-624x324.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/US-Solar-prices-600x312.png 600w" sizes="(max-width: 958px) 100vw, 958px" /></a>
The premium for domestically produced cells against imported modules expanded to approximately $0.23 per watt. Anza said this development reflects the U.S. market’s willingness to ‘pay for tax credit, tariff, and duties certainty.’
Solar module prices in the U.S. had <a href="https://www.mercomindia.com/us-solar-module-prices-dropped-to-0-25-w-between-november-and-february-2025" target="_blank" rel="noopener">dropped</a> to a near-record low of $0.25 per watt from November 2024 to February 2025. Anza noted that module prices declined steadily through November 2024 from last summer’s highs of $0.28 per watt.
The U.S.’s reciprocal tariffs, along with new investigations into polysilicon and anode active materials, have increased procurement risk and uncertainty in the country’s solar markets.
In January this year, the U.S. Department of the Treasury and Internal Revenue Service <a href="https://www.mercomindia.com/us-releases-additional-guidance-under-iras-domestic-content-bonus" target="_blank" rel="noopener">released</a> additional guidance on the Inflation Reduction Act’s domestic content bonus for clean electricity production and investment tax credits (ITC). The updated safe harbor applies to solar projects, domestic solar wafers, land-based wind projects, and battery energy storage systems (BESS).
President Trump signed a 940-page domestic policy and tax bill into law on July 4 after the House of Representatives <a href="https://www.mercomindia.com/house-passes-senates-version-of-budget-bill-without-changes" target="_blank" rel="noopener">passed</a> the Senate’s version of the budget reconciliation bill without any changes. The bill removes the Section 48E ITC for solar and wind projects commissioned after December 31, 2027. Projects with construction beginning before July 4, 2026, or commissioning by December 31, 2027, will be exempt from these restrictions.
Trump also signed an executive order directing the Secretary of the Treasury to terminate the clean electricity production and investment tax credits for wind and solar facilities and implement the enhanced foreign entity of concern (FEOC) restrictions identified in the ‘One Big Beautiful Bill’ Act.
Anza monitored the reaction of solar manufacturers to the FEOC requirements and the ITC phase-out for solar projects.
According to the report, several U.S. manufacturers announced that they would keep their assembly lines on pause due to the recent policy changes, including the reduced production incentives under Section 45X.
Some of the recent major U.S. manufacturing shifts were as follows:
<ul>
<li>JA Solar sold its Arizona module plant to Corning (July 2025)</li>
<li>Trina Solar off‑loaded its Texas factory to FREYR (late 2024)</li>
<li>Meyer Burger’s Goodyear, Arizona plant shut down (May 2025)</li>
<li>AESC and LG began domestic BESS cell manufacturing (Q2 2025)</li>
</ul>
Solar Suppliers Cautious
Recent tariff developments are causing increased caution among solar suppliers, which is leading to rising instances of suppliers listing products as “coming soon,” “sold out,” or “end of life.”
Anza projects that the U.S. supplier count for solar modules will remain consistent through the second half (2H) of 2027. However, tariff uncertainties and shifting demand pressures will reduce commitments slightly.
Conversely, solar cell supplier commitments are expected to increase from 6 in 2H 2025 to 11 by 2H 2026.
<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/Solar-prices-image-2.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-82899 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/Solar-prices-image-2.png" alt="US Solar prices" width="742" height="214" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/Solar-prices-image-2.png 742w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/Solar-prices-image-2-300x87.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/Solar-prices-image-2-650x187.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/Solar-prices-image-2-624x180.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/Solar-prices-image-2-600x173.png 600w" sizes="(max-width: 742px) 100vw, 742px" /></a>
Storage Sector 
Battery storage is expected to see positive changes in the coming years.
<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/Solar-prices-image-3.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-82900 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/Solar-prices-image-3.png" alt="US Solar prices" width="741" height="214" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/Solar-prices-image-3.png 741w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/Solar-prices-image-3-300x87.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/Solar-prices-image-3-650x188.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/Solar-prices-image-3-624x180.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/Solar-prices-image-3-600x173.png 600w" sizes="(max-width: 741px) 100vw, 741px" /></a>
Anza said that U.S. BESS cell suppliers are expected to triple by 1H 2027, and then remain steady. BESS module suppliers are projected to rise by over 14%. Finally, domestic BESS container assemblers are expected to double during this period.

US Median Solar Prices Declined 2% in July 2025 to $0.49/W

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					</table>Solar module prices in the U.S. dropped to a near record low of $0.25 per watt from November 2024 to February 2025, according to a report by <a href="https://www.anzarenewables.com/solar-module-pricing-insights/" target="_blank" rel="noopener">Anza Renewables</a>. The company noted that module prices declined steadily through November 2024 from last summer’s highs of $0.28 per watt.
<img loading="lazy" decoding="async" class="aligncenter wp-image-79145 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/parth-1.1.png" alt="" width="898" height="550" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/parth-1.1.png 898w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/parth-1.1-300x184.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/parth-1.1-768x470.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/parth-1.1-650x398.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/parth-1.1-624x382.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/parth-1.1-600x367.png 600w" sizes="(max-width: 898px) 100vw, 898px" />
Prices increased by 4% between December 2024 and January 2025. This increase occurred due to the market pricing recalibration in response to President Trump’s tariff policies, forcing expectations to reset after months of gradual declines.
In March this year, Trump <a href="https://www.mercomindia.com/trump-ends-support-for-solar-manufacturing" target="_blank" rel="noopener">rescinded</a> an order of the previous administration that designated solar photovoltaics as elements of national security under Section 303 of the Defense Production Act.
Module prices leveled by February because of growing uncertainty over future tariff adjustments and policy debates.
The report states that the market is navigating complex shifts caused by evolving trade policies and buyer caution despite a 2% price increase since November.
Mono PERC
The recent market shifts benefited the mono-passivated emitter and rear contact (PERC) cell suppliers. This development occurred because of the ongoing tunnel oxide passivated contact (TOPCon) patent litigation among multiple Tier-1 suppliers.
TOPCon
Customer concerns over possible disruptions in TOPCon supply drove some of them to prefer Mono PERC modules. This preference change increased module prices by 4.2% since November to $0.25 per watt.
The report highlights that even though domestic cell suppliers reacted strongly to the litigations, many consumers do not view them as high risk. Therefore, the report does not consider litigation risks as the sole factor behind the consumers’ purchase decisions.
The median TOPCon module pricing remained steady at $0.26 per watt during the reference period.
Many consumers prefer TOPCon modules for their performance despite the potential retroactive litigation fines. TOPCon modules’ pricing is aligning more closely with MONO PERC notwithstanding the slight shift in market sentiment. This preference again highlights that legal issues are not causing mass TOPCon avoidance.
HJT
According to the report, heterojunction technology (HJT) module pricing decreased by 2.9% during the reference period. The decrease in HJT price reflects the pressures on TOPCon and Mono PERC modules.
HJT module manufacturers are likely testing their product pricing to discover the price point matching the advantages of higher efficiency, lower temperature coefficients, and reduced cold condition performance losses.
<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/ascsaa.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-79146 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/ascsaa.png" alt="" width="810" height="436" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/ascsaa.png 810w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/ascsaa-300x161.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/ascsaa-768x413.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/ascsaa-650x350.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/ascsaa-624x336.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/ascsaa-600x323.png 600w" sizes="(max-width: 810px) 100vw, 810px" /></a>
Cell Origins
Cells sourced from tariff-affected countries, including Cambodia, Malaysia, Thailand, and Vietnam, drove a 7.7% price increase for modules using these components. Meanwhile, pricing for solar modules using cells from non-Southeast Asian nations decreased by 0.8% as buyers pivoted towards regions less impacted by the .
Recently, the U.S. Department of Commerce <a href="https://www.mercomindia.com/us-steep-anti-dumping-solar-imports-southeast-asia">announced</a> its final determinations in the anti-dumping and countervailing duty investigations concerning crystalline silicon photovoltaic cells and modules imported from Cambodia, Malaysia, Thailand, and Vietnam.
The widening solar cell price range between Southeast Asian nations and other countries underscores market pricing sensitivity to geopolitical trade policies.
Consumers are reconsidering their solar cell sources to diversify strategically and mitigate geopolitical risks.
<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/jhc-asjd.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-79147 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/jhc-asjd.png" alt="cell origin pricing history " width="811" height="415" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/jhc-asjd.png 811w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/jhc-asjd-300x154.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/jhc-asjd-768x393.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/jhc-asjd-650x333.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/jhc-asjd-624x319.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/jhc-asjd-600x307.png 600w" sizes="(max-width: 811px) 100vw, 811px" /></a>
Anza Renewables said it used median distributed generation list prices from more than 35 module vendors for this report. This sample size covers over 95% of the U.S. module supply.

US Solar Module Prices Dropped to $0.25/W Between November and February 2025

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