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    Over 400 Firms Urge Congress To Act On Solar Reconciliation

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    Legislators In Germany Advocate Renewable Energy Expansion

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    Testing To Be Performed On The First Hydrogen-Powered CTV

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    EU Green Gas And Nuclear Investment Rules Final Vote Is Near

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    Central American Development Bank commits $800 million toward the fuel relief effort

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    Array Technologies increased revenue 35% to US$872.7 million in 2020

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    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

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    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

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    WindEurope Annual Event 2022 in Bilbao – Registrations Open, Conference Programme Available

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    RWE chooses Chantiers de l’Atlantique as key supplier for its F.E.W Baltic II wind farm – design, construction and installation of the electrical offshore substation

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    EGAT deploys Siemens software solutions for the world’s largest Hydro-Floating Solar Hybrid Project

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    The GE Energy Division Will Henceforth Be Known Vernova

    The GE Energy Division Will Henceforth Be Known Vernova

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    Over 400 Firms Urge Congress To Act On Solar Reconciliation

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    Legislators In Germany Advocate Renewable Energy Expansion

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    Testing To Be Performed On The First Hydrogen-Powered CTV

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    In Green Hydrogen, Germany Aims To Invest EUR 3.6 Billion

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    EU Green Gas And Nuclear Investment Rules Final Vote Is Near

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    South Korea To Grow Nuclear Energy Share Mix To 30% By 2030

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    Refiners Should Not Be Making Above Normal Profits- Biden

    Refiners Should Not Be Making Above Normal Profits- Biden

    Cluster of Businesses Want The EU To Improve Energy Security

    Cluster of Businesses Want The EU To Improve Energy Security

    Enel plans to expand power distribution business into US

    In A Move To Avert Blackouts Australia Halts Power Market

    Central American Development Bank commits $800 million toward the fuel relief effort

    Central American Development Bank commits $800 million toward the fuel relief effort

    A New 500-MW Supercritical Coal-Fired Power Plant Going into Operationa in Philippines

    EU Reduces Plans of Fossil-Fueled Electricity By One-Third

    BP to invest up to £18 billion in UK energy system by 2030

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    GE Renewable Energy connects the world's most powerful hydro unit to the grid in Wudongde, China

    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

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    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

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    SPI Energy Develops Utility Scale Solar Project in Maryland

    Lightsource BP pioneers UK's first night-time solar service

    Altus Power and Heliene Establish Strategic Partnership to Support U.S. Solar Module Manufacturing

    EDP signs a Build & Transfer Agreement for a 200 MWac solar project in the U.S.

    I&M is Powering the Next Tomorrow with Plans to Add More than 2,000 MW of Solar

    WindEurope Annual Event 2022 in Bilbao - Registrations Open, Conference Programme Available

    WindEurope Annual Event 2022 in Bilbao – Registrations Open, Conference Programme Available

    RWE chooses Chantiers de l'Atlantique as key supplier for its F.E.W Baltic II wind farm - design, construction and installation of the electrical offshore substation

    RWE chooses Chantiers de l’Atlantique as key supplier for its F.E.W Baltic II wind farm – design, construction and installation of the electrical offshore substation

    EGAT deploys Siemens software solutions for the worlds largest Hydro-Floating Solar Hybrid Project

    EGAT deploys Siemens software solutions for the world’s largest Hydro-Floating Solar Hybrid Project

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    GE’s digital power transformers selected for multiple projects across the globe

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Clean Energy PPA Costs Grew 6% In Q2 Marking New Norm In US

in News, Solar Energy
Statkraft to buy power from 252 MW of solar parks in Spain

According to LevelTen Energy’s analysis of the market, trade conflicts, supply chain restrictions, and rising shipping costs prompted prices for clean energy power purchases to increase by 6% last quarter in the US.

As per LevelTen’s P25 National Index for Q2 2022, the cost of solar energy climbed by 3% to $36.33 per MWh, while the cost of wind energy increased by 13% to $33.91 per MWh. Gia Clark, senior director of developer services at LevelTen, stated in the analysis that in addition to ongoing problems like connectivity and late delivery, the Commerce Department’s inquiry into the Auxin Solar tariff petition and record-high inflation have intensified ambiguity for solar developers.

A third of developers polled by LevelTen in the third quarter said they needed more assurance about the investigation’s potential outcome, despite President Joe Biden’s announcement of a two-year suspension of new tariffs on photovoltaic panels imported from Southeast Asia that are the focus of the Commerce investigation.

For the past two years, US developers have struggled with projects’ escalating costs, which have included everything from labour and materials to shipping fees and site leases, according to Clark. They might be settling into a new baseline where everything is getting more expensive, including PPAs, like so many other aspects of daily life.

Solar costs in MISO have increased by 15.66%, or $6.20 per MWh, and are now at $45.80. The cost of solar energy from MISO has increased by 29.6% since last year. Solar costs in PJM increased by $3.00 per MWh, or 6.8%. They have increased by 31.1% year over year. In addition, although solar prices have only climbed by 1.6% in SPP, year over year, they have increased by 41.8%.

In contrast, 3 out of 5 ISOs saw an increase in wind prices, according to LevelTen’s research. In SPP, wind prices increased by 16.2%. They have increased by 42% year over year. Prices for ERCOT P25 wind energy increased by $9, or $2.40 per MWh. MISO wind prices increased by 1.3%.

In recent quarters, wind costs in SPP have increased significantly, according to LevelTen’s VP of Energy Marketplace, Rob Collier. Although the market has a sizable potential for wind energy, a lack of transmission capacity makes it difficult for wind generators to deliver their production to the market, leading to major negative wholesale price setting occurrences and production restrictions that developers may be factoring into their PPA prices.

Collier stated that the effects of poor transmission networks and the phase-out of production tax credit subsidies are reflected in PPA prices. LevelTen’s PPA market study from April forewarned of rapidly rising development costs brought on by a widening supply-demand gap. During the first quarter of 2022, PPA costs grew by 9.7%, reaching about $40 per MWh.

To obtain the funding necessary to build solar and wind projects, most developers depend on PPAs with businesses and other significant energy consumers. According to the firm, the cost models used to price PPAs are growing more cumbersome as supply chain, interconnection, and regulatory issues make it difficult to estimate construction costs and schedules.

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