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 Anza Renewables.

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.

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 dropped 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 released 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 passed 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:

• JA Solar sold its Arizona module plant to Corning (July 2025)
• Trina Solar off‑loaded its Texas factory to FREYR (late 2024)
• Meyer Burger’s Goodyear, Arizona plant shut down (May 2025)
• AESC and LG began domestic BESS cell manufacturing (Q2 2025)

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.

Storage Sector

Battery storage is expected to see positive changes in the coming years.

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.