LevelTen Energy has released its quarterly PPA pricing index for North America and released full-year data through 2023. The company operates a PPA marketplace with more than 900 project developers, energy consultants and distributors, as well as some of the world's largest buyers of clean energy.

The report noted that the P25 price of the PPA increased by 3% in the fourth quarter and 15% for the full year 2023. The P25 pricing represents the 25th percent price offered by the developer in the contract, rather than the PPA price for the final transaction.

LevelTen reports that the regional picture for the U.S. solar market is mixed. P25 prices at CAISO, a regional grid operator in California, rose 15 percent, while other markets saw declines.