PPA Price Benchmarks
Median disclosed PPA $/MWh by ISO and technology, plotted against signing year. Use the dropdowns to switch slices. Solid line is the median; shaded band is ±1σ. Dots are individual disclosed deals — hover to see offtaker and MW.
Built from 289 disclosed-price PPAs and 279 imputed-price PPAs across 9 ISO/region buckets · methodology →
ERCOT Solar — disclosed PPA $/MWh by sign year
n=5 disclosed, 72 imputed
How to read: Solid line is the median $/MWh of disclosed PPAs signed in each year for this slice. Shaded band is ±1σ around the median. Dots are individual disclosed deals (capped at 12 per year for legibility — hover for offtaker, MW). Years with fewer than 3 disclosed deals show no median line — the slice is too thin to anchor a benchmark from. NYSERDA REC-strike-only entries are excluded (they're $17-27/MWh REC-component-only, not all-in PPA prices). Time axis uses signing year, not COD year.
Reading these numbers responsibly
- Years with fewer than 3 disclosed deals show no median line. We don't anchor a benchmark from a sample size too small to be informative.
- NYSERDA REC-only strikes are excluded from NYISO Solar/Wind benchmarks. They're $17–27/MWh REC-component-only, not all-in PPA prices, and would silently drag the bucket median down ~50% if mixed in.
- Hyperscaler-direct VPPAs typically price 10–30% higher than utility procurement in the same region — corporate buyers pay a green premium for COD timing and REC bundling. The disclosed-deal scatter shows this dispersion.
- Time axis uses signing year, not COD year. A 2022-signed PPA with 2025 COD is plotted at 2022, in 2024$ vintage.
- LBNL prices are levelized 2024$/MWh (real, time-averaged over contract term). They're standardized comparables — the as-signed initial $/MWh may differ from the levelized number for projects with escalators.
Want the underlying deals?
Every disclosed-price dot on the chart links back to a tracked deal in the database. The full list is filterable by tech, ISO, status, year, and disclosed-vs-imputed.
Browse PPAs in the database