The price hike trend in the photovoltaic industry continues to spread.

News of rising component prices has been circulating for some time now, Not only has it not stopped, but it’s still gaining momentum. 。

Following Longi and JA Solar’s initial price hikes of 2–4 cents, several major manufacturers have followed suit. Reports indicate that Trina has raised prices by 5–6 cents, Tongwei by 3–4 cents, Zhengtai by 5–6 cents, and Jinko by at least 2 cents, while TCL Zhonghuan is currently in discussions.
 

According to the latest reports, on January 13, 2026, Tianhe raised its quote by another 3 cents, and the current price has now reached 0.85–1.09 yuan/W ！

Quotation dated January 1, 2025

Quotation dated January 13, 2025

As expected, the component price of RMB 1/W mentioned before the New Year is no longer just a dream! For details, see: Prices are soaring—module prices have risen again! Next year, they could hit 1 yuan per watt!

As of now, seven module manufacturers have confirmed price hikes, and in January, leading manufacturers’ module order prices have generally risen to RMB 0.75/W or higher. Some have even exceeded RMB 0.8 per watt!

Meanwhile, according to SMM, during the first week of January 2026, Prices for silicon wafers and silicon ingots have both surged, with some increases reaching as high as 10%!

Specifically, the average transaction price of N-type G10L monocrystalline silicon wafers rose 9.17% month-over-month; N-type G12R monocrystalline silicon wafers increased by 8.40% month-over-month; and N-type G12 monocrystalline silicon wafers climbed 9.21% month-over-month. The transaction price of polycrystalline silicon N‑type reprocessed feedstock rose 9.83% week-over-week, while the transaction price of N‑type granular silicon posted a month-over-month increase of 10.5%.

According to research, downstream battery prices this week have risen sharply compared with pre-holiday levels. The prevailing price for solar cells stands at RMB 0.37–0.39 per watt, up 18.75% from the previous period.

According to reports, the price hike is once again driven by rising upstream material costs.

At present, both silver futures and spot prices continue to hit record highs. Year-to-date, silver futures and spot prices have risen by more than 130% and 150%, respectively.

In terms of silicon material prices, the average transaction price of N-type polysilicon re‑melted feedstock has risen from RMB 41,500 per ton at the beginning of the year to RMB 59,200 per ton today, an increase of 29.88%.

In terms of silicon wafer prices, the quoted price for 183.75 mm wafers has reached RMB 1.31 per piece, while 210R wafers are quoted at RMB 1.42 per piece, and 210N wafers at RMB 1.66 per piece.

Compared with other key segments of the photovoltaic value chain, the price increase for PV modules this year has indeed been relatively modest. Aside from silicon material, which has already risen nearly 30% over the past year, and silicon wafers, up 12%, solar cells have also seen price gains exceeding 15% so far this year—while module prices have risen by less than 2% over the same period.

In fact, at present, downstream prices are much less influenced by silicon material prices. Today, the “main artery” of downstream prices is being held in check by silver paste, as well as aluminum, copper, and other auxiliary materials used in photovoltaic modules. 。

The recent price surge in bulk commodities, led by the “silver‑copper‑aluminum” trio, has been so rapid that many solar cell and module manufacturers have suspended quoting prices—after all, if prices rise further, previously signed orders could face substantial losses.

Although the increase is relatively modest, it has still dealt a significant blow to downstream manufacturers.

Following the implementation of the policy to fully integrate new‑energy power generation into the market, investment returns from photovoltaic power generation have declined significantly, and payback periods are lengthening. The key question now is whether downstream PV‑power‑plant investors will be willing to absorb the price increases.
 

Under these circumstances, most component manufacturers—except for the leading players—dare not submit price quotes, for fear that any price increase would trigger the risk of contract breaches.

A contract that had just been finalized was canceled the very next day when the price suddenly increased. According to one solar-cell supplier, three contracts were scrapped in a single week; with prices rising so sharply that production has ground to a halt, companies are now forced to “celebrate the New Year together.”

What’s more, some major PV manufacturers have shown a complete lack of contractual integrity: after raising prices, they simply walk away from their commitments, failing to ship goods under contracts signed at lower prices, while simultaneously ramping up exports and prioritizing overseas markets.

Following the installation surge in the first half of the year, this year’s new photovoltaic capacity additions have followed a pattern of strong growth early on and slower expansion later. H2 installations have slowed markedly compared with H1, while market expectations for new capacity additions in 2026 remain subdued.

But in any case, price hikes aren’t necessarily bad news; when the “price‑cut kings” stop slashing prices at all costs, it signals that the entire industry chain has finally struck a balance.