AUSTRALIA BRACES FOR SOLAR PRICE HIKE AS SUPPLY CHAIN PRESSURES START TO BITE
Australia’s solar industry experts have warned that a panel price hit is approaching the solar market as early as April 2021. The panel price is expected to rise by at least 10% due to shortage of raw materials such as polysilicon and also shipping costs.
The solar price hike, which has already impacted the global market, is coming to Australia as early as next month. Australia has so far been left impacted due to the strong Australian dollar and reserve of older and cheaper modules.
David Dixon, an analyst at Rystad Energy, said that the shipping costs has quadrupled from USD $0.005 to USD $0.02 in 2021. Jinko Solar, a major PV company based in China, also said that the shortage of raw materials will continue in the coming months and has the potential to worsen until either demand dampens or upstream capacity rebalances.