US solar and wind contract prices rose sharply in first quarter

April 14 (Reuters) - U.S. ‌solar ​and ​wind contract prices rose sharply in the first quarter as project ‌developers faced tariffs, labor shortages and permitting ⁠challenges amid soaring demand for power from ‌data centers, according to ‌a report published on Tuesday.

* Prices for solar power purchase agreements, contractsknown as ​PPAs, were up 13% from the first quarter of last year,and wind ⁠PPAs were nearly 24% higher, according to data fromLevelTen ​Energy, an online hub for renewable energy sellers andcorporate buyers. * Wind projects ​faced tough scrutiny from ‌the Trumpadministration for federal permits, particularly from theFederal Aviation Administration, the ⁠report said. * Solar projects are being hit with higher costs andpermitting constraints, but are ⁠in high demand from customersbecause they can be ​brought online quickly to serve data centerneeds. * Large corporate buyers in need of power account for ‌mostrenewable energy demand. * Smaller corporate buyers that enter contracts to meetclimate ‌change goals have slowed their procurement ⁠due to higherprices ‌and pending changes ​to greenhouse gas reporting rules.

(Reporting by Nichola Groom; Editing by Jamie ‌Freed)

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