Posted: Wednesday, 3/8/17 @ 9am EST
Are you a commercial building owner or a land owner interested in solar and making extra money without investing anything? If so, then a solar site lease may be the right option for you.
What is a solar site lease?
A solar site lease is a lease agreement between a property owner and third party investor (i.e., solar installer, developer or financier). Solar panels are installed on the owner’s property (building or land) by the investor, and an annual negotiated rate is paid to the property owner. The property owner doesn’t pay anything for the solar array/installation nor does he use the power being produced on his property. The investor chooses an off-taker, or multiple, to consume the energy produced.
The energy produced by a solar site lease must be consumed by a chosen off-taker. This off-taker may be a business or home owner who wants to use solar energy, but doesn’t have the space or site for it, or a feed back to the utility (National Grid, Eversource, etc.). A separate agreement is made between the investor and off-taker that doesn’t involve the property owner.
What qualifies a property owner for a solar site lease?
Here is what you need as a property owner interested in a solar site lease:
- An interest in making money with solar, but not in owning or using the power being produced for the next 20-30 years
- A plot of land or roof top that isn’t being used, but could be used for solar generation
- A roof top should be less than 10 years old; the solar array may be there for upwards of 30 years, in some cases.
- Land should be good for solar; sites that aren’t good for solar include wetlands, reservations, zoning restricted areas, shaded areas or rough land
Does Boston Solar offer solar site leases?
Boston Solar can act as the third party investor for a solar site lease. We also offer other financing options explained here. If you are interested, fill out the form to the left and we'll get back to you today!
Director of Marketing at Boston Solar