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Started By
Message
Solar farm question
Posted on 8/21/24 at 10:39 am
Posted on 8/21/24 at 10:39 am
My wife has a piece of property she owns with her brother and sister. It has been in her family for a couple hundred years. They actually have the deed signed by John Adams which is pretty cool.
Anyway, they will likely never sell it. They were approached by a solar farm company to turn approximately 75 acres of the property into a solar farm. Currently the land is rented by a farmer and it basically covers property taxes plus a little extra. This would be significantly more.
I try to stay out of the affairs of my wife's side of the family but they've asked me for input on this. I've reached out to a real estate attorney and banker that I know have experience in these so I can pick their brains but also wondering if anyone on here has anything I should be considering.
What I have been able to find online is range is typically $500-1500 per acre. 20-30 year leases. Typical contract terms are annual rent escalations, agree to restore land to previous condition, carry insurance on the property.
Anyone else know anything out this situation?
Anyway, they will likely never sell it. They were approached by a solar farm company to turn approximately 75 acres of the property into a solar farm. Currently the land is rented by a farmer and it basically covers property taxes plus a little extra. This would be significantly more.
I try to stay out of the affairs of my wife's side of the family but they've asked me for input on this. I've reached out to a real estate attorney and banker that I know have experience in these so I can pick their brains but also wondering if anyone on here has anything I should be considering.
What I have been able to find online is range is typically $500-1500 per acre. 20-30 year leases. Typical contract terms are annual rent escalations, agree to restore land to previous condition, carry insurance on the property.
Anyone else know anything out this situation?
7
Posted on 8/21/24 at 11:11 am to BamaAlum02
That’s about what I know.
We have a place in South Texas under contract currently and it’s $900 to $1000 an acre for 400 acres. Been signed for about 6 months and there is a 3 to 4 year period where they can back out. They do pay during those years but it’s not near as much, something like 9k per year for 270 acres. 270 acres is going to pay around $250,000 to $270,000 per year with a 3% annual increase and my uncle has the other 135 acres of that 405 and he is under contract also . We just bought 135 more acres bordering the 400 acres so we can move our camp and shop if they start to bulldoze everything and still have a little place in South Texas to hunt Nilgai.
I’m kinda hoping it does not happen because I’m going to miss the shite out it.
We have a place in South Texas under contract currently and it’s $900 to $1000 an acre for 400 acres. Been signed for about 6 months and there is a 3 to 4 year period where they can back out. They do pay during those years but it’s not near as much, something like 9k per year for 270 acres. 270 acres is going to pay around $250,000 to $270,000 per year with a 3% annual increase and my uncle has the other 135 acres of that 405 and he is under contract also . We just bought 135 more acres bordering the 400 acres so we can move our camp and shop if they start to bulldoze everything and still have a little place in South Texas to hunt Nilgai.
I’m kinda hoping it does not happen because I’m going to miss the shite out it.
Posted on 8/21/24 at 11:57 am to Rize
That's pretty high. A cousin got tied into an 1800 acre farm north of Gonzales (TX) for 500 a year with Duke Energy. He's in for 200 acres and had a proviso that any recyclables get left behind following dismantling and returning site to original condition, unless lease is renewed at that time.
Posted on 8/21/24 at 12:11 pm to BamaAlum02
Returning to original condition may assume that that company still exists down the road.
Posted on 8/21/24 at 12:12 pm to Wraytex
quote:
That's pretty high. A cousin got tied into an 1800 acre farm north of Gonzales (TX) for 500 a year with Duke Energy. He's in for 200 acres and had a proviso that any recyclables get left behind following dismantling and returning site to original condition, unless lease is renewed at that time.
This has been a long process with telling them no several times.
Posted on 8/21/24 at 12:17 pm to Coomdaddy
Good point, reminds me that I'd posted a windmill blade recycling yard south of Big Spring awhile back..... A previous google maps street view sign showed the company info, my pic showed the info gone and a google search showed they were out of business, but the pasture full of cut up windmill blades is still there.
Posted on 8/21/24 at 12:24 pm to Wraytex
Yup, I would mandate the project get bonded for reclamation and decom. Be aware though, I know this has ended with the company walking away most times. Make sure inflation is accounted for in their reclaim number. Get 2-3 3rd party estimates imo.
This post was edited on 8/21/24 at 12:27 pm
Posted on 8/21/24 at 12:43 pm to BamaAlum02
save the environment and just say no to ground based solar installs. They are not going to be around to restore the property.
This post was edited on 8/21/24 at 12:45 pm
Posted on 8/21/24 at 1:33 pm to BamaAlum02
quote:
Anyone else know anything out this situation?
I know locally that a group got a lawyer involved in the negotiations and ended up getting WAY more than they were first offered.
Posted on 8/22/24 at 11:27 am to BamaAlum02
quote:
were approached by a solar farm company to turn approximately 75 acres of the property into a solar farm. Currently the land is rented by a farmer and it basically covers property taxes plus a little extra
We have the same situation in North Louisiana, my sister and I inherited some land that all pasture. My grandfather had cows on it.
We contemplated the solar stuff but decided not to do it, apparently the metals they put in the ground can ruin your land for anything in the future and diminish the long term value.
I'm holding mine as an investment but want it available if I ever get an offer I can't turn down, it was appraised at 10K an acre due to location, two frontage roads and the school district it's in.
Posted on 8/22/24 at 11:50 am to The Torch
What were you offered per acre for a solar farm?
Posted on 8/22/24 at 1:29 pm to Woodbird
quote:
What were you offered per acre for a solar farm?
We didn't get that far, some land man kept calling me until I told him to bug off.
Posted on 8/22/24 at 3:56 pm to The Torch
Do they just call you out of the blue?
Posted on 8/22/24 at 5:55 pm to BamaAlum02
Keep in mind that the land under the solar panels will not be usable for decades after the solar farm is dismantled.
The toxicity ruins row crop and pasture land.
In fact, if you have row crop land and moving it to solar, let your neighbors come get your good soil off your property before you ruin it for generations.
The toxicity ruins row crop and pasture land.
In fact, if you have row crop land and moving it to solar, let your neighbors come get your good soil off your property before you ruin it for generations.
Posted on 8/23/24 at 8:39 am to el Gaucho
quote:
Do they just call you out of the blue?
I'm sure they have a way to see who owns the land, you can look on the Lincoln Parish Tax site and toggle over our property, my name will show up as the owner.
We are only six miles from Squire Creek and people are buying land out like crazy around us, I'm waiting on the right offer.
If not I'll keep it.
Posted on 8/23/24 at 9:05 am to The Torch
Who maintains the land while it’s under lease? Who cuts the grass or sprays etc to keep it from growing up between and around the panels?
I’ve seen a small farm near me that is currently over grown with small trees growing over the panels. It can’t be in use and maybe never was.
I’ve seen a small farm near me that is currently over grown with small trees growing over the panels. It can’t be in use and maybe never was.
This post was edited on 8/23/24 at 9:42 am
Posted on 8/23/24 at 9:36 am to KillTheGophers
quote:
The toxicity ruins row crop
This is a conundrum of a statement. Row cropping is awful for the soil anyhow, with the amount of chemicals applied, it consistently strips the nutrients from the soil.
Posted on 8/23/24 at 11:57 am to Shepherd88
That can be changed and remedied very quickly with farming practices and a handful of years. The heavy metal leaching from panels. Not so much. We are basically creating mini superfund sites all across the country.
This post was edited on 8/23/24 at 12:22 pm
Posted on 8/23/24 at 4:12 pm to Shepherd88
No it’s not. We aren’t making enough money to destroy the soil with chemicals.
Posted on 8/25/24 at 10:17 am to BamaAlum02
Happened to us in south Mississippi. The lease was $1,000/acre.
The lease terms were not good so we countered with a lot of changes. It’s also very evident that this industry is heavily dependent on politicians.
They walked away from us. Went to our neighbor. Rinse and repeat.
The lease terms were not good so we countered with a lot of changes. It’s also very evident that this industry is heavily dependent on politicians.
They walked away from us. Went to our neighbor. Rinse and repeat.
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