Data, transparency and education - three critical components to reaching true scale in renewable energy procurement. Today we're excited to support all three of these critical tenets with the introduction of our quarterly PPA Pricing Index.
Included in the report below are PPA pricing averages, broken down nationally and across four ISOs (SPP, ERCOT, PJM and MISO), and split by wind and solar. We've also detailed average project size and forward shape scalers across these geographies and energy types.
Although we didn't issue a report last quarter (but plan to do so going forward on a quarterly basis), we've outlined a few key changes to be aware of between Q1 and Q2 2018:
- PPA Prices in the LevelTen Marketplace dropped consistently across all ISOs for active projects as compared to 3 months ago. Median prices were down $1.5 per MWh across all projects.
- Examining an even blend of wind and solar in each ISO shows prices dropped most significantly in ERCOT with median prices down $3.1 per MWh. The smallest price change was in SPP with prices down $0.55 per MWh.
- The largest price change for a single ISO/technology combination occurred in ERCOT wind with median prices down $5.5 per MWh to $18 and the top quartile benchmark price down $3 per MWh. MISO solar experienced the 2ndlargest drop, coming in at $34.1 per MWh with a drop of $4.9.
- Solar prices are seen decreasing through 2021 COD across all ISOs.
