Industry Analysis
Feb 26, 2024

20+ North Solar Offers Posted on RenewaFi in 2023 Were 'In the Money' by 10% or More

More than 20 North Solar offers posted on RenewaFi last year were in the money by 10% or more. Two of these were in the money by more than $10.

Most of these were 3-7 year PPAs with near-term start dates. Folks who might be interested in these offers can ask for price refreshes directly in the marketplace.

We calculate moneyness by subtracting the offer price from its corresponding SWRV estimate. SWRV stands for Shape Weighted RenewaFi Value and represents our approximation of the offer's market value.

The chart below visualizes North Solar trends since the launch of our marketplace in April 2023.

The blue dots represent 71 bid prices, and the red line represents the range of 158 offers prices.

The prices of North Hub solar offers came down slightly in 4Q, just as the value of those offers rose.

To better understand the prices, we can display the same data as a density chart.

The blue hump shows the bids, while the red hump shows the offers.

Bids were most frequently posted at $40 and offers at $51. They overlapped between $40 and $50.

Market participants countered each other several times, and there was a match near $42 for a 5-7 year PPA.

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