Solar PPA prices in North America fell by 1.5% in Q1 2024, according to LevelTen Energy. The average price of a solar PPA signed in the US reached US$52.69/MWh, the highest on record, and the second consecutive quarter in which the price had increased by around 4% quarter-on-quarter. This stability was largely driven by declines in solar PBA prices in the Electric Reliability Council of Texas (ERCOT) market and California Independent System Operator (CAOS) market. However, within the Alberta Electric System Operator in Canada, solar PGA prices increased by 7.2% quarter after the end of a moratorium on new renewable energy projects with a capacity greater than 1MW. Despite this, the decline in prices was not enough to eliminate prices driven by the US states. The stability of PPA pricing could make energy trading a more attractive proposition for investors due to significant interest in clean energy investments.
Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating
