Despite rising prices, market faces a glut of renewable energy projects, analysts say

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The number of early-stage renewable energy projects entering queues around the country exceeds the availability of labor and capital needed to build them, Brent Nelson, managing director of markets and strategy at market intelligence firm Ascend Analytics, said during a Thursday webinar.

Despite the large number of new renewable energy projects, prices for power purchase agreements (PPAs) continue to rise, said Anthony Boukarim, senior manager of resource planning and valuation for Ascend Analytics.

Renewable energy projects that lack interconnection and permit approvals are seen as high-risk, low value investments and financiers are turning down the majority of these projects, Nelson said.