Introduction

Week 39 gives European buyers a clear contrast between stable module benchmarks and emerging cost pressure in power electronics and storage. European module indications held broadly unchanged, although falling cell prices continue to weaken upstream support. In inverters, SMA opened major new European manufacturing capacity while Sungrow announced product-specific price increases driven by metals and component costs. Storage developments ranged from a new UK and Ireland residential system to a major long-term cell-supply framework, while European project financing continues to depend heavily on country-specific revenue structures. The practical message is to benchmark complete systems, verify local delivery terms and avoid turning one supplier announcement into a market-wide forecast.

1. Solar Modules

Market direction: → Stable

InfoLink Consulting’s 16 September assessment showed unchanged public averages across the major module categories. China-made TOPCon modules for European projects averaged USD 0.119/W FOB, while BC modules for European C&I projects averaged USD 0.131/W and all-black BC residential modules averaged USD 0.195/W. The data covers delivered orders and new orders signed from 10 to 16 September.

The stable module benchmarks sit alongside softer upstream conditions. OPIS reported that FOB China TOPCon cell prices fell for a third consecutive week as export buying eased and wafer and silver costs weakened. M10 and 210R cell prices were about 12% and 18% below their late-August peaks, respectively, although both remained above early-August levels. For European buyers, this supports continued benchmarking but does not establish an immediate decline in delivered module prices, where logistics, traceability, origin and contractual terms still matter.

Brand Spotlight — AIKO

AIKO reported approximately 9.4 GW of ABC module shipments in the first half of 2026, with second-quarter shipments about 30% higher than in the first quarter. Its order book for ABC modules stood at roughly 15 GW, with orders scheduled into the first half of 2027 because purchasing interest exceeded available production capacity. Overseas markets, including Europe, accounted for more than 55% of first-half ABC shipments.

The company also said its fourth-generation BC products had reached maximum conversion efficiency of up to 26% and would be introduced progressively into mass production. European EPCs considering high-efficiency BC modules should therefore confirm the exact product generation, production slot, delivery window, module format and warranty route rather than assuming that a large order book means every model is equally available.

Brand Spotlight — DMEGC Solar

TaiyangNews’ September module listing places DMEGC’s Infinity RT DM640G12RT-B66HSW at 23.7% efficiency and 640 W. The product uses 132 half-cells based on rectangular 182.3 mm by 105 mm wafers, a 2 mm dual-glass construction and stated bifaciality of 80% ±5%. The module was upgraded in April and remained among the listing’s higher-efficiency commercial TOPCon products in September.

For procurement teams, the useful signal is the continuing movement of high-power TOPCon formats toward higher efficiency. Buyers should still compare usable power density, dimensions, weight, mounting compatibility, transport density, electrical design and independently documented degradation terms for the exact model offered.

Browse available DMEGC products.

2. Inverters

Market direction: → Stable / unclear

No Europe-wide inverter transaction-price benchmark was available for the week. Sungrow’s announced increases provide credible evidence of supplier-specific cost pressure, but one manufacturer’s notice is not enough to describe the whole European market as rising. The broader procurement picture combines metals and component exposure with growing emphasis on local production, cybersecurity, software governance and grid-forming functionality.

Brand Spotlight — SMA Solar Technology

SMA opened a highly automated inverter factory in Niestetal, Germany, with annual production capacity above 60 GW. The approximately €80 million facility will manufacture utility-scale equipment including Sunny Central central inverters rated from 2.6 MW to 5 MW, Sunny Highpower Peak3 string inverters up to 180 kW and the containerised Sunny Central Flex conversion platform.

The Sunny Central Flex combines DC-AC and DC-DC conversion, medium-voltage transformation and switchgear, and is intended for utility PV, storage, hybrid projects and grid-forming applications. For European project buyers, the factory adds local industrial capacity, but equipment selection should still be based on the precise project configuration, applicable grid-code evidence, factory lead time, commissioning scope, software responsibilities and long-term service package.

Brand Spotlight — Sungrow

Sungrow announced price increases of 5% to 15% across several inverter and storage product groups from 20 September. The notice covered increases of 5% to 10% for string, modular and matrix inverters, 10% to 15% for medium-voltage grid-connected inverters and 5% to 15% across several PCS and storage-system categories. The company cited higher copper, aluminium and component costs.

These are announced supplier prices, not proof that every European transaction will move by the same amount. Competitive tenders, distributor agreements, project size and previously signed contracts can produce different outcomes. Buyers with Sungrow equipment under consideration should refresh written quotations, verify their validity period and confirm whether the exact product, service and logistics package is affected.

3. Batteries & BESS

Market direction: → Stable / unclear

The week does not provide a defensible Europe-wide hardware-price direction. It does show growing product choice and increasing sophistication in financing. Analysis of emerging European BESS markets highlights major differences between merchant-heavy Germany, capacity-backed revenues in Poland and the developing contracted and capacity-market structures in Italy. Lenders are responding by stress-testing revenue assumptions, reserve mechanisms and downside allocation rather than accepting a generic European model.

In the United Kingdom, Statkraft and SSE completed a financial swap tied to a two-hour battery revenue index. The structure exchanges uncertain indexed revenue for a fixed amount and illustrates how storage is developing more standardized hedging tools. These developments are commercially relevant, but they are not hardware price benchmarks.

Brand Spotlight — Anker SOLIX

Anker SOLIX launched its XE all-in-one residential storage system in the United Kingdom and Ireland. The product integrates a 7 kWh LFP battery and inverter, offers 5 kW, 6 kW and 8 kW inverter options, and can scale to 42 kWh per string. Up to three XE units can operate in parallel for a stated maximum system capacity of 126 kWh. The manufacturer specifies 10,000 cycles, a 10-year warranty, three MPPTs and up to 15 kW of solar input.

The launch provides verified European availability through authorised installers in the UK and Ireland, but buyers elsewhere should not infer availability. Installers should verify local certification, grid approval, usable capacity, backup behavior, installer requirements, monitoring, warranty handling and whether tariff-based control functions are supported in the relevant country.

Brand Spotlight — Fluence

EVE Energy signed a framework with Fluence covering up to 206 GWh of battery deliveries between 2027 and 2031. The arrangement includes 16 GWh of committed deliveries for 2027 and 190 GWh of reserved capacity thereafter. Chemistry, manufacturing location, commercial terms and destination markets were not disclosed, and the reserved volume will require subsequent purchase orders.

The headline volume should therefore be treated as a supply-chain framework, not guaranteed European availability. For European BESS tenders involving Fluence, procurement teams should confirm which cell, manufacturing route and system configuration apply to the project, together with warranty security, safety documentation, augmentation assumptions, software scope and local service responsibility.

4. Search4Solar Market View

Module buyers should continue to seek fresh delivered-price benchmarks. Public European module averages were stable, while cells softened upstream. That combination supports negotiation but does not justify assuming an immediate fall in landed prices. For high-efficiency BC and TOPCon products, production allocation and exact model availability can matter more than the general market average.

For inverters, this week strengthens the case for shorter quote-validity checks and fuller technical qualification. Sungrow’s notice shows real supplier-specific cost pressure, while SMA’s factory demonstrates substantial European capacity for utility and hybrid power conversion. Compare complete offers across hardware, grid compliance, cybersecurity, controls, commissioning, warranty and service rather than focusing on €/kW alone.

For storage, separate equipment procurement from the project revenue case, but evaluate them together before award. Revenue structures differ sharply across European markets, and new hedging tools will not remove technology, degradation, connection or operational risks. Contractual clarity around cell provenance, software, augmentation, performance guarantees and long-term service remains essential.

5. Sources Used

  1. InfoLink Consulting — Extent of polysilicon production cuts remains uncertain; quotes hold steady amid limited transactions — 16 September 2026.
  2. pv magazine / OPIS — China TOPCon solar cell prices fall for third week as export buying fades and wafer costs ease — 18 September 2026.
  3. EnergyTrend — Aiko Solar and Haitai Solar disclose latest business updates — 20 September 2026.
  4. TaiyangNews — TOP SOLAR MODULES Listing – September 2026 — 16 September 2026.
  5. pv magazine — SMA opens 60 GW inverter factory for high-power applications in Germany — 18 September 2026.
  6. pv magazine — Sungrow raises inverter, storage prices by up to 15% — 14 September 2026.
  7. ESS News — Relationships still key for bankers: Financing BESS across emerging European markets — 18 September 2026.
  8. ESS News — Statkraft, SSE complete first swap tied to battery storage revenue index — 15 September 2026.
  9. pv magazine / Anker SOLIX — Anker SOLIX launches XE, the next-generation all-in-one home energy storage — 14 September 2026. Manufacturer-supplied sponsored announcement.
  10. ESS News — EVE Energy signs 206 GWh battery framework with Fluence — 18 September 2026.