Silicon wafer prices recorded the largest weekly decline this year, and greater efforts are needed to reduce solar production and maintain prices.

In the first week after the "May Day" holiday, the price of photovoltaic silicon wafers recorded the largest weekly drop for the year. Although the self-discipline production cut in the photovoltaic industry in the first quarter drove the net profit of leading companies to rebound, the sharp drop in silicon wafer prices again will affect the effectiveness of the production cut in maintaining prices. This week, the prices of N-type silicon wafers have fallen across the board, with the maximum decline reaching 13.5%. The price drop of silicon wafers is mainly due to a decline in demand after the rush to install solar panels, with prices of batteries and components also falling, and the reduction in production of batteries in May not meeting expectations. What is more concerning is that the prices of some models of silicon wafers are now lower than in the fourth quarter of last year. Taking the example of the price of N-type G12R single crystal silicon wafers, which was 1.16 yuan per piece in mid-December last year, it is now 1.12 yuan per piece. After multiple quarters of production cuts to maintain prices, the prices of silicon wafers have fluctuated back to levels before the production cut.