Solar PPA prices jump 5% in Q3, mainly on new trade tariffs: LevelTen — SkimNews
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- Solar PPAs rose 4.9% to $64.23/MWh in Q3 2026 and are up 6% year-over-year and 12.7% since Q3 2024, according to LevelTen Energy.
- Section 232 tariffs announced in early August could add $3 to $7 per MWh when they take effect, with more than half of solar modules already repriced and costs being passed to buyers, said Sarah Wolf of LevelTen.
- Wind PPAs held flat in the third quarter but are up 13.8% year-over-year and 27.5% since 2024, constrained by federal permitting challenges that have pushed new wind deals onto the platform to historic lows.
- ERCOT was the lone outlier on wind pricing, with a modest decline as more wind projects came online and buyer demand shifted toward solar over the past few months.
- Hyperscalers took 99% of new-build PPAs signed in Q1, while the number of first-time PPA buyers fell to its lowest level since 2016, according to CEBA.
- Repowering and expiring contracts on aging wind and solar fleets are quietly creating a new bidding channel for buyers shut out of the new-build market, Wolf noted.
Why it matters: The Q3 jump is not yet the full impact: Section 232 tariffs are only starting to ripple through, and more than half of solar modules are already repriced — meaning PPA buyers face another $3-$7/MWh on top of recent gains. With 99% of new-build deals going to hyperscalers and the pool of first-time buyers shrinking to a decade low, competition for limited projects is intensifying before year-end tax credit expirations.
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