Oklahoma has seen an uptick in solar development in our state. Electric utility companies will continue to expand their solar footprint across Oklahoma. Leasing your land to a reputable renewable energy company may be beneficial to you or your estate. You need to work closely with an attorney familiar with the leases to help you identify issues before they become problems.
Top 5 Things to Think About When Negotiating with Solar Companies/Renewable Energy Companies.
1. Ask questions and understand the motive and experience level of the person trying to lease your land. Beware of singing a listing or option agreement with someone on a land grab to tie up an as many sites as possible. Do you due diligence and know the proximity to transmission lines that have capacity and demand for the power to be produced.
2. Make sure you are not being asked to bear the tax liability for improvements on your land.
3. Ask about if they will allow oil and gas development on your property in addition to solar development.
4. Need to make sure developer bears burden of any removal of improvements made to the property.
5. No two deals/leases for solar development are the same. Each lease needs to take in considerations of the lease and needs of the landowner. Hiring an attorney with experience with agricultural operations and solar farming will assure the property owner their interest are protected.