Landowners
National Experience,
Local Representation
Our focus is on you and your community, but our vision benefits from our national solar development experience.
We are actively looking to partner with landowners interested in realizing income on their land from solar energy and/or energy storage project development. To learn more about how Prospect14 can work with you, the landowner, to make that happen, read the below FAQs.
Landowner Benefits
Conserve land; reduce impact of pesticides/fertilizer.
Low ground cover plants prevent erosion, store carbon in the soil, and increase wildlife habitat.
Benefit the community financially.
Solar farms lower future property tax bills for local residents.
Earn more in rent.
Land is worth more than under alternate uses; this also yields higher taxes to local governments and school districts.
Maintain flexibility with a fully reversible commitment.
Solar panels and battery systems are not toxic; land can easily be returned to its original state at the end of the project’s operating life.
Frequently Asked Questions (FAQs)
Both. Depending on landowner interest, Prospect14 has the ability and resources to purchase property or enter into a long-term lease.
For either a purchase or lease approach, the process starts with an Option Agreement covering the 4-6 year project development, design, and permitting phase and Prospect14’s early capital investment period. During the early stages of development most work is offsite: land title research, applications and studies with the electric utility, and permitting discussions with local, state, and potentially federal authorities. Later in the development process as land development permits are secured there will be some need for onsite surveys and environmental and other studies. Once all legal entitlements are secured allowing the project to be built and to be connected to the electric grid, financing, procurement, and construction planning can begin. The construction process depends on project size and specific site characteristics, but for projects of the size we develop is typically less than a year, often substantially less. Solar and battery energy storage projects then operate for up to 40 years, typically monitored remotely with relatively infrequent scheduled or call-out maintenance visits.
An option to lease is typically 4-6 years (the “option period”), embedded in a document that becomes the long-term lease agreement . The option period covers the project development process. Once a project is operational, lease terms are typically 25 years with two 10-year extensions.
Yes. During the Option period, the landowner maintains full control and use of their property, with access granted to Prospect14 for site testing/diligence/survey as required, with notice to owner.
Yes. Prospect14 will work with landowners to define project boundaries, minimize impacts, and preserve residential, commercial or other site areas.
Above-market lease rates. Prospect14 is able to offer long-term leases above current-use market rates, in exchange for an option period to allow for us to invest capital in development of the project until it is fully permitted and ready to finance and build. Prospect14 pays the landowner option fees during the option period.
Significant. During the option period, Prospect14 will spend up to $300,000 to entitle the site for a solar energy or energy storage project and work to secure power contracts and all local, state, utility, and federal approvals.
Minimal. Prospect14 will manage all project elements in coordination with you. This will require occasional, coordinated access for site development activities. The landowner assumes no project liability.
Restored. Construction methods used in solar energy and energy storage projects are minimally invasive, allowing sites and sub-surface conditions to be fully restored at end of term. This provides a long-term land preservation/holding vehicle.
Minimal. Solar energy and energy storage installations are ideal neighbors, with primarily passive technology that does not create emissions or significant noise, or require frequent maintenance. This mitigates potential impact in neighboring properties and is fully compatible with agricultural activities.