New Energy Contract Cost Keeps Dropping
LevelTen Q1 PPA Price Index Reveals Increased Competition and Cost Reductions as Key Drivers in Decreasing PPA Prices
May 8, 2019 (Level 10)
“…The Q1 LevelTen Energy in-depth look at power purchase agreements (PPA)] for both wind and solar projects, in five independent system operator (ISO) regions, including CAISO, ERCOT, MISO, PJM and SPP, in the United States…[shows]…Across markets, an evenly-weighted index of P25 wind and solar prices decreased $0.39/MWh, or 2.3% quarter-over-quarter…Solar prices decreased in all markets except MISO, with the largest decreases coming from CAISO, PJM and ERCOT, and only moderate decreases in SPP…
…Overall wind prices also decreased, but not as significantly as solar prices. ERCOT and SPP saw material decreases in their prices, while CAISO, MISO and PJM saw slight increases…This quarter, in addition to reporting on how much prices have changed, [the report] also examined why they changed…[A survey of 40 utility-scale renewable energy project developers] revealed that increased competition among developers and changes in engineering, procurement and construction (EPC) costs had the greatest impact…” click here for more
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