EnerWealth identifies properties of landowners who hit the sweet spot for project eligibility based on site conditions, proximity to interconnection, orientation, and topography. Once a landowner expresses interest, pre-development due diligence can begin. Developing a project takes time, but EnerWealth does all the heavy lifting!
Permitting, zoning approvals, project layout, financial models, interconnection and more are all done by a development team with years of experience. Information will be provided to the landowner outlining the process and an Option to Lease issued, along with an Option Payment so you can start bringing in $$$ before the project construction is even complete!
Sample Project Timeline
What is the Process of Leasing my Land for Solar?
1) The first step is to review site conditions and conduct a legal assessment of your property. This involves investigating matters related to your land such as zoning regulations, ownership status, mineral rights, easements, tax abatements, and title restrictions if any. This process could take several weeks.
2) Following a favorable initial review, we will sign a Letter of Intent or an Option to Lease agreement with you. A sequence of technical and environmental evaluations will then be initiated which are known as interconnection electrical and civil site studies. Depending on the land's size, this process may take up to 18 months. During this period, you are free to utilize your property, and any income generated from it is yours.
3) Upon completion of all studies, obtaining full financing for the project, and resolving any pending permitting and zoning matters, the construction process will commence. The construction period may vary based on the project's size and may extend up to another 12 months.
4) Upon completion of construction, the solar farm will begin producing electricity for a period of 25-35 years. The site will be monitored by a small on-site staff consisting of one or two individuals, and occasional service personnel may be required for maintenance purposes.
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The duration of the construction phase is dependent on the size and the preparatory work required on the site. It may take several months or even years of development work before the actual construction process can begin.
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Yes, EnerWealth may be able to build a system to power your home and/or commercial operation.
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It is necessary to inform your lessee in advance to prepare for the conclusion of their farming or ranching activities. The good news is that they will have several months’ notice to winddown activities.
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Renting is generally associated with shorter-term use, such as renting a house for a few months. Leases are typically long-term agreements. In the case of a solar land lease, it usually spans over 25 years or more.
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Modern solar panels have a life expectancy of up to 35 years. Contracts for solar energy usually have a duration of 20-25 years. After the lease expires, the solar farm may either be dismantled at the operator's expense, and the land returned to you in its original condition, or you could opt for an extension of the lease if there is a continuous market demand for the power. If the lease is extended, the panels and other equipment might be upgraded, but the fundamental structure of the solar farm is likely to remain unchanged, subject to the advancements in solar technology at that time.