Industry Analysis
Apr 23, 2024

Value of ERCOT Renewables Surge!

The value of ERCOT renewables has sky rocketed in recent weeks and is now at a 12-month high.

The RenewaFi composite for 10-year solar offtake is now at $50.40, up 16% over the last 30 days

For wind offtake, the 10-year composite is now at $49.82, up 14% over the same period.

The wholesale market's anticipation of higher prices over the next several summers (through 2030) is likely contributing to the spike in value. This anticipation is driven by expected load growth, especially from data centers.

In addition, prices tend to be more volatile during summer months, especially on hot days.

These expectations are flowing into the value of renewables, which are poised to capture significant upside when prices are higher and more volatile. 

10-year, UC, 2025 start, no settlement <$0, $4 REC included

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