Tree indicators were used to estimate the annual degradation rates of the various recently produced c-Si photovoltaic (PV) modules. Although the performance of the newly installed PV modules decreased by over 2% owing to initial light-induced degradation, little or no performance degradation was observed in all the PV modules composed of p-type solar cells after the stabilization. However, the PV modules composed of n-type solar cells clearly displayed performance degradation originating from the reduction of VOC or potential-induced degradation.