Solar farms are a new way for property owners to profit off their land. But what qualifies as ideal property for solar farms? Jeff Cusson of Saunders Real Estate recently sat down to interview Michael Minton of Dean Mead to discuss the ideal properties for hosting solar panels. Minton expressed that like all aspects of real estate, location is vital. But there are other factors at play as well, especially sun and usability.
The property needs to be remote enough that neighbors are not concerned with this technology being invasive. While it is a green technology, there are people who do not want it in their backyard.
The property also needs to have plenty of access to the sun with no obstructions. This happens to be where Florida shines with its excellent weather conditions for sunlight.
Having high usability as a property is crucial and can be attributed to several factors. The property needs to be upland and without wetlands and vegetation if possible. The property also needs to be away from any endangered species. The location of the property in regards to a transmission line plays a factor as well as being near a substation. Citrus groves, cattle and row crop properties are among the top ideal pieces of land that can be easily transitioned.
Having all of these pieces in place makes a property highly attractable and helps drive the economic transaction. However, prices can vary significantly on properties even if they seem similar. Leasing is also another method which Minton says has generated a lot of attention among his clients.
Please fill out the form below to share with our expert.