Industry Analysis
Feb 9, 2024

Finding the Bid-Offer Overlap for Houston Solar

Houston solar bids and offers overlapped between $45 and $50 in 2023.

Throughout the year, originators on RenewaFi posted 71 proposals for Houston solar. Of these, 54 were offers and 17 were bids.

The average offer price was $53, while the average bid price was $41.

At first, that appears to be a massive bid-offer spread. In reality, however, there was significant overlap in pricing, as shown in the chart below.

Within this overlap, market participants countered each other five times. Below were the two deals with the narrowest bid-offer spread:

  • A 1-year, 100 MW, Energy only PPA with a Jan. 24 start in the low 50s
  • A 10-year, 205 MW, Energy+REC PPA with a Dec. 26 start in the mid 40s

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