Google-Solar module prices shipped from Asia to Europe have risen by up to 20% due to heightened hostilities in the Red Sea.
-Avoidance of the Red Sea route adds 9,600 kilometres to shipping voyages, increasing fuel costs and transit times.
-Manufacturers have passed along the logistics surcharge to customers, adjusting module prices upward by €0.01 to €0.02 per watt.
-Despite the increase, the rise in module costs only represents 1% to 2% of the overall system cost for solar projects.
-Demand for modules remains robust due to all-time low prices, but slimmer margins have manufacturers concerned about covering increased freight costs.
Originally published on Mercom India