The solar industry is among many sectors feeling the pinch of higher prices, according to a report released Tuesday by the Solar Energy Industries Association and Wood
Prices rose quarter over quarter and year over year across every solar segment during the period. It’s the first time that residential, commercial and utility solar costs have risen in tandem since the energy consultancy began tracking prices in 2014.
The most-significant cost pressures came from a jump in prices for raw materials, including steel and aluminum. Elevated shipping costs also played a role. The bulk of these impacts will likely start to show in 2022, since many companies have enough inventory to see them through the end of the year, according to the report.
A separate report from Rystad Energy released Friday said global solar panel prices have jumped 16% this year compared to 2020′s levels. Overall costs, which include soft costs like labor, are up 12% in 2021. Rystad said this could potentially hurt the demand outlook for the next few years.
Source: CNBC