New figures provided to pv magazine by Rystad Energy reveal that the amount of unsold panels in European warehouses may have more then doubled between mid-July and the end of August, and that it may reach 100 GW by the end of the year. Analyst Marius Mordal Bakke explained that PERC modules bought and stored by a European distributor for $0.23/W in March are now facing an average spot price of $0.16/W today, which could very likely be $0.15/W next month.