In the first quarter of 2023, North American P25* power purchase agreement (PPA) offer prices rose an average of 6.6% to USD 50.32 per MWh, according to a new report from LevelTen Energy. For two years, the LevelTen PPA Price Index has reported an increase in average P25 PPA offer prices, which includes both solar and wind. Solar PPA prices climbed another 8.5% to USD 49.52 per MWh. LevelTen’s P25 wind index rose 4.9% to USD 51.12 per MWh, after a modest dip last quarter.