Solar module prices in Europe rose across all technologies in October, ending two months of declines, according to sun.store's PV Index as reported by PV Tech on 5 November 2026. Inverter prices also rose across all four types tracked, even as the index's measure of module demand slipped.
PV Tech's report of the index gives no reason for the rise, so the figures are best read as a change in direction rather than an explained trend.
Modules by technology
TOPCon bifacial remains the cheapest option in the index. It averaged €0.116/Wp (US$0.132/Wp), up 1.5% on the month, the smallest rise of any module type.
Full Black moved the most, rising 13.3% to an average of €0.144/Wp. "Full Black posted the strongest gain of the month and is now the most expensive segment in the index," sun.store said.
Back contact and TOPCon monofacial both averaged €0.131/Wp. Back contact rose 3.9%, while TOPCon monofacial rose 9.2%.
sun.store says bifacial TOPCon stays cheaper than monofacial TOPCon for standard utility-scale projects, and that the gap is widening. On the October averages, the difference is €0.015/Wp.
The supplier ranking for the three months to October was unchanged from September, with Trina Solar first, followed by Aiko, JA, Jinko and LONGi.
Inverters follow modules up
Larger hybrid inverters recorded the biggest monthly increase of the four types, up 9.5% to €65.63/kW. Smaller hybrid units of 1–20 kW rose 9% to €103.16/kW, the highest price of the four.
Larger string inverters rose 7.9% to €23.76/kW. Smaller string and on-grid units were almost stable, up 0.2% to €54.05/kW.
sun.store said larger commercial units remain by far the most competitively priced inverters per kW.
Demand has not followed prices
The rise did not come with stronger demand on the index. European module demand has been below historic averages since June 2026, and the PV Index purchasing managers' index fell from 67 in September to 65 in October.
Buyers are still more positive about the month ahead. For November, 45% plan to buy more modules, 41% expect no change and 14% plan to buy fewer.
What it means for European developers
For utility-scale buyers, the October data strengthens the case for bifacial TOPCon: it is the cheapest segment, it rose the least, and its advantage over monofacial is growing. On these averages, modules for a 1 MW project would cost about €15,000 less than with monofacial TOPCon.
Rooftop and commercial projects are more exposed. Full Black modules are often chosen for appearance on visible roofs, and they now cost €0.028/Wp more than TOPCon bifacial, or about €28,000 per MW on the October averages. Hybrid inverters, which pair solar with batteries, also rose by around 9%, so older quotes for solar and storage systems may need checking.
One month of data does not establish a new trend. With demand soft, the next index will show whether suppliers can hold these prices or whether October was a short rebound after two months of declines.
Source: PV Tech, citing sun.store's PV Index, 5 November 2026.
