Solar-Cell Prices Fall on Subsidy Cuts, New Energy Finance Says

The price of solar cells, the main component of photovoltaic panels, dropped in May as additional supply hit the market and demand was curbed by European cuts to solar power subsidies, Bloomberg New Energy Finance said.

Monocrystalline cell prices slumped 7.5 percent to $1.14 per watt from the previous month and multicrystalline cells were down 8.7 percent at $1.09 per watt, according to a report by Martin Simonek, an analyst at the London-based research company. With the spot price of the raw material polysilicon posting a smaller decline of 5.1 percent to $74.4 per kilo, many cell manufacturers have seen their profit margins wiped out, he said.