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North American solar power purchase agreement prices rose 3 percent in the second quarter
LevelTen Energy, the operator of solar and wind energy PPA platforms, has released the "PPA Price Index Report" for the second quarter of 2024. The latest report states that power purchase agreement (PPA) prices have increased in the second quarter of this year, following a slight decline in the previous three months.
The report points out that after a 1% decrease in P25 prices in the first quarter of 2024, solar PPA prices increased by 3% in the second quarter.
LevelTen stated that a series of factors have exerted upward pressure on North American solar PPA prices. The rise in prices was driven by factors such as internet queue leader, approval difficulties, imposition of tariffs on Chinese photovoltaic modules, and the restart of anti-dumping and countervailing duty (AD/CVD) investigations.
These events demonstrate that the trade law environment faced by American solar developers is becoming increasingly challenging. The increased cost of using components that require payment of tariffs for various projects is included in the PPA price and has largely contributed to the upward trend of solar energy prices in the second quarter. LevelTen also pointed out that the price of wind power purchase agreements increased by 7% in the second quarter of 2024.
The PPA platform states that in the current period of uncertainty, market participants continue to seek innovative ways to reduce risks and successfully complete transactions. Recently, this has been reflected in the increasing use of contract elements to address development risks, particularly through the use of preconditions (CP) and exponentiation in PPA contracts.
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