{"schemaVersion":"report-figure-v1","report":{"slug":"nem-solar-value-factor-2019-2025","title":"Utility Solar Fell From Near the Average Price to a Deep Discount in Six Years","url":"https://solaranalytica.com/nem-solar-value-factor-2019-2025","datePublished":"2026-10-01","lastReviewed":"2026-10-20"},"figure":{"id":"nem-solar-value-factor-by-year-2019-2025","title":"Utility solar value factor by NEM region, every year 2019 to 2025","unit":"ratio (solar output-weighted price over time-weighted average price)","valueLabel":"2019","metricLabels":{"y2020":"2020","y2021":"2021","y2022":"2022","y2023":"2023","y2024":"2024","y2025":"2025"},"caption":"Solar output-weighted regional price divided by the time-weighted average price, every calendar year, utility-scale solar only. Computed by Solar Analytica from AEMO MMSDM five-minute dispatch prices and unit output.","provenance":{"dataSource":"AEMO MMSDM DISPATCHPRICE and DISPATCH_UNIT_SCADA, with registration tables","dataType":"Computed index from observed five-minute prices and unit output","scope":"NEM utility-scale solar, NSW, Qld, SA, Vic, calendar years"},"series":[{"label":"NSW","value":0.927,"y2020":1.086,"y2021":0.606,"y2022":0.61,"y2023":0.568,"y2024":0.55,"y2025":0.43},{"label":"Qld","value":0.782,"y2020":0.799,"y2021":0.566,"y2022":0.518,"y2023":0.364,"y2024":0.363,"y2025":0.281},{"label":"SA","value":0.996,"y2020":0.749,"y2021":0.426,"y2022":0.496,"y2023":0.366,"y2024":0.435,"y2025":0.531},{"label":"Vic","value":1.064,"y2020":0.887,"y2021":0.434,"y2022":0.572,"y2023":0.37,"y2024":0.372,"y2025":0.338}]},"csv":"https://solaranalytica.com/reports/nem-solar-value-factor-2019-2025/figures/nem-solar-value-factor-by-year-2019-2025/data.csv","publicationState":"fixed-edition","boundary":"The figure remains bound to the report edition. A newer upstream release creates a review obligation and never rewrites these rows automatically."}