Solar Increases Economic Value for Landowners
The ability to harness and convert renewable natural resources into energy have always been considered a valuable asset. Clean energy is driving an increase in property values across the United States. Landowners can use solar to diversify their income and ensure they have a steady flow of income, regardless of what is happening with weather or crop yields for the year.
Solar farms can increase economic value for landowners in several ways:
Leasing land: Landowners can lease their property to solar developers, which can generate a significant amount of income through rent.
Increased property value: The presence of a solar farm on the property can increase the property's value, due to the potential for additional income and the added value of being an environmentally conscious property.
Tax benefits: Solar farms can provide tax benefits for landowners, as the government often offers incentives for renewable energy development.
Energy savings: If the solar farm is connected to the grid, the landowner may be able to use the generated electricity to power their own property, reducing their energy costs and increasing their economic value.
Community benefits: A solar farm can also provide economic benefits for the wider community, through the creation of local jobs and investment in renewable energy.
Solar energy is dependent on available land that can be used for the project. As the demand for solar increases, so does the opportunity for landowners to lease their land and gain an opportunity to diversify their incomes. Solar presents an option to generate long term revenue for landowners.
It is important for landowners to understand what qualifies their land to be considered for a solar lease. Solar farms have to be built near a transmission line, so landowners with property near transmission lines are more likely to be approached by developers. It also helps to have contiguous parcels to ensure energy is not lost from long distance transmission of the energy.
“Solar Energy - An Economic Opportunity for Landowners” Land Gate Resources. October 1st, 2020.