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Wind, solar prices hold steady in Q1

Data: LevelTen's Continental Market-Averaged P25 Index; Chart: Axios Visuals

Wind energy prices in the U.S. and Canada climbed 1.5% last quarter, and solar prices fell 2.4%, as markets for the two renewable energy sectors stabilized after months of disruption.

Why it matters: The leveling out of prices brings welcome relief for energy developers and their investors.

The big picture: Inflation, high interest rates, and community opposition have made renewable energy more expensive in recent years, making it harder for solar and wind to compete with other types of electricity.

  • A combination of those factors has led to volatility in prices.

Zoom in: Wind has borne the brunt of those impacts: average prices for wind power contracts last quarter were up 20% from a year earlier, per the latest market report from LevelTen Energy, a marketplace for renewable energy buyers and sellers.

Between the lines: Wind has faced uniquely staunch opposition from local residents. The projects are encroaching on developed areas — and, after all, feature long blades that spin atop sky-high towers.

Yes, but: The more modest quarterly increase from Q4 was just a fraction of the quarter-by-quarter spikes that previously jarred the wind industry.

Separately, solar energy projects have seen costs stabilize as supply chain problems have eased.

  • Developers are benefiting from a glut of solar panels, helping keep costs low.

👀 What we're watching: A group of solar manufacturers on Wednesday submitted a petition to the U.S. Commerce Department, asking it to impose duties on Chinese rivals they say are engaging in unfair trade practices.

  • A similar petition in 2022 sparked a trade investigation that halted most solar imports and strangled large solar projects.
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