New Incentives in Massachusetts
The Department of Energy Resources (DOER) is finalizing regulations for its second round of solar renewable energy credits (SRECs), dubbed “SREC-II”. In anticipation of the new regulations, there is pent-up demand for new projects among solar investors, developers, and businesses involved in solar throughout the Commonwealth.
Once these regulations become effective we anticipate a renewed effort by project developers and investors to locate suitable solar sites. In order for a project to benefit from SREC-II it will need to be granted Assurance of Qualification by DOER. This is also known as “queuing position” which means that each project must be recognized in order to receive incentives.
See slideshow at http://www.allearthrenewables.com
Benefit to the Landowner
A landowner can benefit from the solar development market without having to commit significant capital to a project by leasing their property to an experienced solar developer. Typical lease terms are 20-25 years with annual payments to the landowner based on the size and cost of the project. Property taxes are generally paid by the developer.
LandVest can assist landowners in determining if their site is viable for solar development and then locate the best solar developer for their property. We can market suitable sites for lease or sale through our custom solar outreach efforts.
Take a look at our current portfolio of potential solar sites for lease or sale.
If you’re interested in learning more about solar sites, contact Benjamin Ross, bross@landvest.com,
(617) 500-8068.
