The international solar panel market is experiencing a significant shift, with prices rising sharply after years of decline. In 2026, panel costs have already increased by 20%, and an additional 9–10% rise is expected from April 1, driven by rising prices of colored metals, including silver, and changes in China’s export policies.
China recently ended preferential VAT rates on solar panels, introduced export tariffs, and tightened regulations, affecting global margins. These international trends are already impacting Georgia. According to Tornike Darjania, co-founder of Helios Energy and the Georgian Solar Energy Association, the 30% overall increase in panel prices will make solar projects in Georgia at least 15% more expensive for investors.
Investors who submitted projects to the Ministry of Economy but have not yet received preliminary study approvals face the greatest challenges. Many companies, anticipating rising costs, started construction before signing formal memorandums, now requiring business model adjustments to cope with the higher prices. “Some companies already purchased panels and began installation, but without a construction memorandum. Others are still waiting for preliminary approvals,” Darjania explained.
The rising costs also create financing challenges. With the best bank interest rates at 9–9.5%, businesses face expensive credit, forcing many to recalculate project feasibility. “With the new prices, for some investors, solar energy projects may no longer be as attractive or viable,” Darjania noted.
