FILE - An employee of NY State Solar, a residential and commercial photovoltaic systems company, installs an array of solar panels on a roof, Aug. 11, 2022, in Massapequa, N.Y. Across Europe companies are weighing up the U.S. Inflation Reduction Act's $375 billion in benefits for renewable industries against the European Union's fragmented response. (AP Photo/John Minchillo, File)

Supply chain constraints, along with increasing construction and interconnection costs, sent renewable energy agreement prices higher in the U.S. to start 2023, according to analysis from Edison Energy.

Edison Energy's first quarter report found that power purchase agreement prices in the U.S. increased by 11%, or $6/MWh, since Q4 2022. The largest price increases were seen in the ERCOT market, where project inventory decreased 18% and solar prices have risen over $5 MWh.