Monday, July 19, 2021

Leasing your land for solar power? Know your rights before you sign.

Solar power can offer New Yorkers many potential benefits, including saving money through reduced electricity bills, creating stability during periods of electric rate changes and contributing to a cleaner and healthier community by reducing our carbon footprint. With more and more state residents considering solar power, a number of private companies are looking to develop and initiate construction of new solar projects across the state, including in Schuyler County.

Recently, a number of Schuyler County landowners have reported receiving proposals from one or more energy firms, seeking land for solar facility development. These proposals offer landowners money for an option to lease or purchase land to develop, build and operate a solar power generation and storage facility on the premises. Payments may include an option signing bonus, annual option payments and potential annual lease payments. In some cases, payments may net landowners thousands of dollars.

While the terms of these options may seem very attractive, these agreements are legal documents with potential long-term implications, potentially both positive and negative. Therefore, you should proceed carefully before signing them.

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