U.S. solar PPA prices rose 4.9% in Q3 2026, LevelTen report says

LevelTen Energy’s Q3 2026 report indicates that solar power purchase agreement prices in North America rose 4.9 percent quarter over quarter. The analysis, as reported by pv magazine, is based on 206 price offers from 166 energy projects.

Price movements

• Wind power purchase agreement prices remained essentially flat in Q3 2026.
• Over the past year, wind PPA prices increased by nearly 14%.
• LevelTen Energy reports the 25th percentile solar price at $64.23/MWh for Q3 2026.
• The 25th percentile wind price stood at $68.27/MWh in the same quarter.

Tariff impacts

Starting in December, Section 232 duties will be imposed on imported polysilicon used in solar production. These levies target solar feedstock specifically, separating them from the existing Section 232 taxes on steel, aluminum, and copper. During the third quarter, the ERCOT region experienced a slight drop in wind prices, counterbalancing the price hikes observed elsewhere. LevelTen Energy characterizes the present pricing landscape as "a brief but golden window for buyers."

Market context

Metric	Change since Q3 2024
Wind market index	+27.5%
Solar market index	+12.7%

The company advises buyers to "show up soon" to take advantage of the economic benefits provided by the IRA.

Background

Luminity reported on 4 November that solar PPA prices in North America decreased in the second quarter of 2026. The LevelTen Energy report advises buyers to act before updates to the Science Based Targets Initiative (SBTi) for contracts signed after January 31, 2027, become final. It includes guidance on using procurement fast lanes to navigate these regulatory changes.

Methodology and report specifics

LevelTen Energy’s Q3 2026 analysis covers six ISO territories across the United States. The report introduces a new "Market Index" methodology that displays relative growth in PPA prices over the previous eight quarters, replacing the prior eight-year benchmark chart. This index aggregates pricing trends for individual markets, weighted by the size of the offer pool and the number of offers within each market. The full report provides detailed advice on how buyers can leverage procurement fast lanes to navigate the Science Based Targets Initiative updates. The authors note a deep misalignment between federal policy and voluntary frameworks, suggesting that acting now helps developers secure project financing in time to benefit from the current Investment Tax Credit. They also point to recent pauses in clean energy procurement as buyers await revisions to the voluntary Greenhouse Gas Protocol, while arguing that changes to the SBTi should spur immediate action. The report asserts there are good reasons for buyers to enter the PPA market in the near term.

What to watch

Buyers should track pending revisions to the Greenhouse Gas Protocol and finalized updates from the Science Based Targets Initiative. The SBTi changes specifically affect contracts signed after January 31, 2027.

Additional reporting: pv magazine USA.