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Landowners throughout North America are seeing first-hand how solar pays off. Allocating a portion of your land to a solar farm opens up a dependable income stream and makes it easier for you to manage crucial resources like water.
With thousands of acres under management, Lightsource bp is increasingly North America’s trusted partner for solar land leases that deliver secure, long-term income to landowners.
Our approach to landowner partnerships stems from our deep knowledge of the rural economy. We sit down with you to understand your goals and requirements for your land and to explore whether ‘solar as a crop’ is right for you. And we consider closely the needs of the surrounding community and environment.
When we enter into a 30-year lease agreement with a landowner, we are committing to a competitive rental income which is paid per acre, in advance. The rental income is index-linked so it will rise annually with inflation, providing you with a secure revenue stream for years to come.
Our solar panels and equipment typically occupy only 30% of the leased land, and the design of the solar farm can incorporate grazing of small livestock like sheep. We pride ourselves on designing the solar installation to accommodate your farming priorities, allowing you to draw additional income from the land.
The design of every solar farm includes a biodiversity management plan. Our solar farms include habitat enhancements like bird and bat boxes and log piles, while others are home to bee hives. Sites that are not used for grazing are often sown with wildflower seed mix, to encourage the presence of birds, insects and mammals.
Farm rental income is considered a favorable revenue stream by banks and lenders, which has allowed our solar farm landowners to successfully secure further financing using the rental income. This also allows landowners to address and improve future financial planning for their business and family.
By partnering with Lightsource bp to host a solar installation on your land, you’re helping to generate clean, renewable electricity for local businesses and communities, and diversifying your state’s energy mix.
Our first step is to carry out some initial checks to confirm your land is compatible with solar.
We will provide a proposal to you which details the size of the solar farm and how much income you could receive.
We will then enter into an option period with you. The option does not impact your ability to continue using the land and you can continue generating income from current land uses and receive the option payment.
During the option period we will determine what permits are necessary; get permission to interconnect to the local electric grid and finalize the power purchase agreements.
When we are ready to build the solar farm, we exercise the lease or purchase option. We will also include details of the construction plan and a timeline.
Our landowner partners have a responsibility to protect the land’s access to solar resource, and to allow us to access the property as needed for project construction and servicing.