Solar panels have been around for a long time, but recently Indiana has increased its focus on solar energy. According to the Indianapolis Business Journal, 1,000 acres of solar panels will be in operation by 2024, with thousands more on the way.
It is tempting for landowners to lease their property and cash in on the solar explosion. However, the solar industry is heavily regulated, and you should expect a lease developed by a team of lawyers that may not have your best interest at heart. Continue reading to learn why it makes good business sense to hire an attorney to fight for you before leasing out your land for solar panels.
Understand easement rights
Easement rights are the legal permission to use someone else’s land. When you look over the lease, you want to ensure these rights do not extend beyond the lease terms. Also, ensure you understand who will use the land and that no additional rights sneak through in legalese.
Be wary of vague purpose clauses
A good rule of thumb is that the more specific a purpose clause is, the better it is for the landowner. As the person leasing the property, you need to fully understand how your land will service the renter. Get the exact purpose in writing, and do not settle for verbal agreements.
Having an attorney on your side will help you navigate complex paperwork for leasing your property. Renting your property for solar panels can be very lucrative. Make sure you do not sign an agreement that hurts you in the long run.