December 29, 2019
Agriculture has long been a mainstay of the economy, with farms enduring as sources of revenue and sustenance throughout human history. Today, farmers and landowners around the world are looking to a new kind of crop to generate revenue—solar energy. Whether you’re a farmer looking to diversify, or a landowner keen to generate some additional income, a solar farm is a brilliant way to put your land to work and earn some extra money with little fuss and minimal effort.
Should You Lease Your Land For Solar?
As noted above, a solar land lease is a great way to diversify your revenue streams and generate some additional income with virtually no effort on your part. However, if you’re considering a solar land lease, you should be prepared for a long-term commitment. Patience is a virtue in many areas of life, and solar land leasing is no different. A solar land lease will generally be somewhere in the region of 20 to 25 years, so do your research and be ready to commit before making any decision. In addition, the installation process for a solar farm can take a number of years, owing to the size of most solar farm projects. If you’ve got the patience for the period of set-up and negotiation, however, a solar land lease will generate revenue in the long run. If you’re a farmer or a landowner with some extra space then a solar farm really is a great way to make some more money with minimal effort.
Land Leasing Hurdles To Look Out For
Of course, like any big project with a long-term contract involved, there are a few potential issues to look out for ahead of any solar land lease agreement. As with any new invention, or new way of doing things, there may be detractors who are against the building of a solar farm in their locality. Often, one of the key hurdles for a prospective solar land lease is getting local government and community members onboard with the project. However, given the earning potential and clean energy benefits of a solar farm, it should be possible to convince your friends, neighbors and lawmakers of the positive nature of such a project. Indeed, in many places, people will likely be eager to help in the fight against climate change by supporting a renewable energy project like a solar farm. On a personal level, you should research solar energy in general to learn how it works, concern yourself with all the details of the potential lease agreement, and determine the tax implications of a solar land lease. This last point, relating to taxes, is especially important. As with any income, your solar farm revenue will likely be subject to taxation, so be sure to consult a qualified tax professional for advice ahead of signing a lease agreement.
How To Lease Your Land For Solar
As mentioned above, leasing your land for solar can be a long process and a long-term commitment, so it’s important to find a solar developer that you trust. This way, you can be secure in the future of your investment throughout the entire process, from negotiation right through to the completion of the solar land lease, decades down the line. At YSG Solar, we strive to make the process of building a solar farm completely seamless for New York landowners. Perhaps most importantly of all, we help to cover those upfront costs which can be prohibitive for landowners setting up a solar farm. Our initial proposal, determined by a site assessment, will show you just how much revenue you can expect to generate from a solar land lease. If you’re happy with the figure, and the other terms and conditions of the project, we get to work right away to get you earning as soon as possible. Everything is handled by YSG Solar, from permitting & approvals to operations & maintenance.
Do you want to lease your land for a solar farm in New York? Speak to YSG Solar today—call at 212.389.9215 or send us an email.
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By Shane Croghan
Sources:
https://news.energysage.com/solar-farms-start-one/
http://www.solarmango.com/ask/2015/10/23/what-type-of-land-is-suitable-for-solar-farm/
https://strategicsolargroup.com/what-is-the-average-solar-farm-lease-rate/
https://www.paradisesolarenergy.com/blog/solar-land-lease-vs-solar-ownership/