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The average cost of North American power purchase agreements, or PPAs, rose 6.6% during the first quarter of 2023 in the face of unrelenting demand for clean energy, according to a new report from LevelTen Energy.
Solar PPA prices are up 8.5% since the end of 2022. Wind prices rose 4.9% during the same time period after falling slightly in the fourth quarter of last year — a drop LevelTen hoped was a sign that the IRA had helped relieve market instability.
Despite the upward price trend, demand for renewable energy continues to outpace supply, said Rob Collier, vice president of Energy Marketplace at LevelTen Energy.
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