The Japanese manufacturer blames increasing wafer prices and logistics costs for its decision.

Japanese chemical company and solar module manufacturer Kaneka announced it will raise the prices of ist solar panels by over 20% starting from April.

“The price of silicon wafers, the main material used in photovoltaic manufacturing, has risen dramatically due to the global silicon shortage,” the company said in a statement released. “The prices of other materials such as high transparency glass escalated in addition to logistics costs which placed severe pressure on its business revenue.”

It also explained that price increases have been avoided for a long time through cost reduction. “However, the measures reached the limit and thus Kaneka could not help but to make price revision to steadily provide photovoltaic products to the market,” the manufacturer stated.

The new prices will apply to Kaneka’s all residential and non-residential photovoltaic products.

According to the Kaneka website, the company sells different types of thin-film modules for utility scale projects and building-integrated PV installations, as well as modules for electricity-generating windows and walls.

The company currently holds the world’s highest conversion efficiency of 26.63% for a practical size (180 cm2) crystalline silicon solar cell.