The average system cost of large-scale solar projects remained low in the third quarter of 2025, with cost reductions seen across all module technologies. Projects using Indian TOPCon modules were the premium option in terms of cost, whereas projects using Chinese mono PERC modules remained the most economical. Costs fell across module technologies during the quarter. Projects using Indian mono PERC and TOPCon modules recorded the steepest quarter-over-quarter drop of 1.4%. On a year-over-year (YoY) basis, these projects also saw declines of 0.7% and 0.3% in costs.