Prices of solar energy modules produced by JinkoSolar, one of the largest PV panel manufacturers in the world, have risen by roughly 15 percent in the Chinese market over the past few weeks, Dany Qian, vice president of the China-based producer, has noted in a PV-Magazine interview.

The results of certain key tenders announced recently show a price increase of between 10 and 15 percent, while an even higher increase is being anticipated for upcoming sessions, the deputy chief pointed out in the interview.

The Chinese market is crucial as a solar module price indicator as it brings to the forefront a shortage of raw materials, Qian pointed out.

Increased PV module prices, according to Qian, can be attributed to shortages of module frames and raw materials such as polysilicon, glass and silver, as well as a lack of manufacturing capacity to meet strong demand at present.

Glass and polysilicon producers are making efforts to increase their production capacity, but establishing new factories and production lines will require more time.

Also taking into account the US dollar’s continuing slide, following stimulus measures to ease the pandemic-related hardship, PV panel prices are expected to rise further, Qian noted.

The strong demand, at present, will prompt further PV module price rises for at least another six months, the JinkoSolar deputy projected.