With an over 15-20% increase in raw material prices of steel, copper and aluminum along with a steep 20-25% rise in prices of solar modules, EPC players have been hit hard. With little margins possible under contract terms, many EPC players are renegotiating contracts.
The solar panel prices are expected to continue the downward trend. Panel prices had dropped to as low as 18 cents per watt peak leading to aggressive bidding in solar auctions recently.
