Solar Farms offer opportunity for landowners and farmers in Florida
There has been rapid growth of solar farms across the United States, and Florida is in a position to take part in a large expansion of solar energy production in the coming decade. In 2018, solar energy production in the Sunshine State was only about 1.5 % of Florida’s electrical production. Over the next 10 years, the state’s solar energy is projected to increase to nearly 15% of the total electrical energy produced. The rapid growth of solar will create financial opportunities for landowners, especially land owners with the right sized tract in the right location.
Size of tract needed:
Solar farms as small as fifty acres can be viable if every acre of the property is useable. However, to generate enough cash flow (to be profitable in a reasonable amount of time), the minimum size should be at least 100 acres. The sweet spot for a solar tract seems to be between 200 and 600 acres.
Probably the most important factor to be considered when evaluating a tract is the proximity to high voltage power lines and other important infrastructure such as roads. If a property is too far from the grid or difficult to reach by roads it should probably be passed as a potential solar energy site.
In Florida, there are significant tax savings available for solar farms, and since 1997 solar equipment is exempt from Sales tax in Florida. The federal solar tax credit, is also available (AKA) the investment tax credit (ITC), allows a deduction of a percentage of the cost of equipment and installation of solar energy systems from federal taxes.
Banks have the backing of the U.S. taxpayer with Federal loan guarantee programs and grants available to help with funding both private and commercial alternative energy projects.
A great resource to reference is the USDA site https://www.rd.usda.gov/programs-services/rural-energy-america-program-renewable-energy-systems-energy-efficiency
and the Energy.gov site https://www.energy.gov/downloads/federal-financing-programs-clean-energy
If you would like to locate and evaluate land for a solar farm in North Florida, get in contact and we’ll get you onto properties in various sizes and price ranges. Contact Sidney Stidham email@example.com