April 8, 2020
A solar land lease is a great way to generate extra income from an unused parcel of land. For landowners in the state of New York, and across the entire country, leasing land for solar is becoming an increasingly attractive option. As solar technology has developed, and regulatory processes have caught up to the potential of solar farms, a solar land lease has really become a financially viable option for both landowners and developers.
What to Consider Before a Solar Land Lease
Solar land leases come with a whole host of benefits, which we will discuss further in this article, but, as with any large-scale project, there are some important considerations for landowners.
Solar: Most people will have seen solar panels on homes or businesses, and have some understanding of how it all works, but if you’re about to lease your land it could be a good time to dive in and learn a little more about how solar power works.
Time: A solar land lease is a long-term commitment, with leases generally in the region of 20 to 25 years, so be sure to do your research and pick the right solar developer. Additionally, there may be an option for renewal following the original lease period.
Tax: With the new revenue generated from your solar land lease, there may be additional tax implications which vary based on location and other factors. With this in mind, it’s a good idea to consult with a tax professional before agreeing to a solar land lease.
Reasons to Lease Your Land for Solar
A solar land lease can bring huge benefits for both landowners and solar developers alike, hence the growing popularity of solar farms around New York. For landowners in particular, a solar land lease can bring a lot of benefits with minimal effort.
Income: A solar land lease can provide a stable, consistent income stream for decades to come. Leasing your land for a solar farm allows you and your family to generate income from your unused land, while also holding onto the land for future generations. Given the long-term nature of most solar land leases, you can depend on the solar farm for years to come without having to think about it too often.
Environment: Society has grown increasingly conscious of the environment and our collective role in the fight against climate change. A solar farm is a commitment to renewable energy, and a way to make a real, tangible difference—while also making money. You and your family can be part of a wider environmental movement, marking your land as a positive force in the world.
Community: A solar land lease highlights the role of clean energy in your community and can positively impact the energy grid in the area. During the development of your solar farm, infrastructure improvements may be required. These improvements don’t only benefit the solar farm in question, but can also improve the quality of the local energy grid for the entire community.
How to Lease Your Land for Solar
If you have a parcel of land available for a solar land lease, and you think you’re ready to get started on a project, it’s time to contact an established, reputable solar developer. YSG Solar has been working in the industry for over ten years and we make the entire solar land leasing process seamless for landowners.
YSG will cover the upfront costs that have traditionally been prohibitive for landowners looking to start a large-scale solar farm. A proposal for the project will be drafted following a site assessment by YSG Solar, and this will indicate how much revenue you can expect from the solar land lease. If you’re ready to move forward after the proposal stage, YSG takes care of all operations & maintenance, as well as permitting, property taxes, and more, so you can focus on your new income stream.
If you’re interested in leasing your land for solar, contact YSG Solar today. YSG has been working in the solar sector for over a decade now and is vastly experienced in large-scale solar projects. Send us an email, or call at 212.389.9215 to learn more.
By Shane Croghan
Sources:
https://www.pivotenergy.net/lease-land-for-solar-farm/
https://news.energysage.com/solar-farms-start-one/
https://www.landmarkdividend.com/solar-farm-land-lease-rates-2/