The fifth annual "PV Module Price Index – Secondary Solar Market" report, released by EnergyBin and Buckstop, reveals significant developments in the secondary solar market, highlighting both challenges and opportunities as the industry adapts to evolving global dynamics.
The price index tracks wholesale pricing and supply of crystalline-silicon (c-Si) modules that have moved outside traditional distribution channels and are listed for resale on the EnergyBin exchange. EnergyBin, a B2B wholesale solar equipment exchange comprised of over 1,000 member companies, facilitates connections between solar businesses looking to buy and sell PV hardware. While transactions are not completed directly on the platform, sales listings documented more than 8.7 million modules posted for resale from January 2020 through December 2025.
According to Renee Kuehl, Chief Operating Officer at EnergyBin, the findings continue to demonstrate a maturing secondary market. "For the fifth year in a row, the PV Module Price Index has provided evidence that points to a growing secondary solar market," Kuehl stated. "What's clear from this price index is that most remarketed modules retain resale value. Even as global prices fell since 2023, the price index highlights some level of incubation within the U.S. market" .
Key Findings from the 2025 Report
In 2025, modules listed for resale were predominantly new (98%) all-black, bifacial and monofacial types with a power range from 400 to 525 watts. This inventory primarily resulted from project cancellations and delays. Additionally, a rush to offload p-type modules increased secondary market supply as resellers anticipated PERC production phase-outs. While PERC module resale values held steady throughout the year, they are expected to decline as n-type supply overtakes p-type.
Global Oversupply Impact
A significant finding reveals the effect of global oversupply on used module resale. Average prices for used modules plummeted by 30% from January 2024, dropping to $0.058 per watt in Q4 2025. With new TOPCon modules listed at $0.090 per watt shipped FOB from China as of December, the secondary market for used modules faced considerable pressure.
However, a market size analysis provided by Buckstop indicated that substantial volumes of used modules bypassed wholesale exchanges like EnergyBin entirely, instead being exported directly to buyers in Pakistan, India, Nigeria, Afghanistan, and South Africa. In 2025 alone, U.S. used module exports to these countries reached 50 MW.
Opportunities in Quality Modules
One exception proving the viability of used module resale involves top-quality modules-those less than 10 years old with annual degradation rates of 0.5-1% or below and free from defects. As buyers increasingly prioritize quality over price, used module resale becomes particularly viable for units in excellent condition featuring 3.2mm glass and intact backsheets.
Nick Kumleben, Chief Business Development Officer and Co-founder of Buckstop, emphasized the broader value of secondary markets. "The secondary market offers solar companies the opportunity to create financial, social, and operating value," Kumleben explained. "Secondary markets are not just useful sources for spare parts and liquidity sources for excess stock. Resale also allows solar operators to find used parts, donate unwanted inventory, lessen supply chain shortages through recycling, and help solve energy poverty around the world".
Looking Forward
Now in its fifth year, the report's findings point to opportunities within a robust and sustainable secondary market that supports the ongoing extension of PV asset lifecycles, maximization of asset recovery, and minimization of solar e-waste. Both the value and size of the secondary market are expected to increase as reuse of PV modules not yet at end-of-life becomes mainstream and comprehensive recycling infrastructure for material extraction and redeployment is established.
Source: Solar Power World (March 2026); EnergyBin PV Module Price Index – Secondary Solar Market Report
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