Industry vets form solar site investment fund SolaREIT

SolaREIT, a solar real estate investment fund, is officially launching after securing its first round of capital. The company represents a model in financing solar land that provides more options to compensate landowners for utilizing their land to host solar farms.

Following the successful first round of funding, the company is actively looking to partner with U.S.-based project owners, solar developers and landowners to provide financing options for land purchases and solar lease “buy-outs.” SolaREIT can offer alternative options to developers and project owners that reduce their lease costs.

“While solar developers use land leasing as the primary financing model, it doesn’t always work for landowners and farmers who may need immediate access to capital,” says Laura Pagliarulo, president of SolaREIT. “Our goal is to expand financing and compensation choices that will help the industry grow and thrive — providing farmers and landowners with more options for compensation and developers ways to reduce their lease payments.”

Solar is one of the fastest-growing energy industries in the United States, with over 85 GW of installed capacity. It is also a land-intensive technology; the National Renewable Energy Laboratory estimates that solar panels will cover 3 million acres by 2030.

SolaREIT increases options for all aspects of solar, including:

• Liquidity for landowners and farmers: Approximately 85% of all land for solar projects is leased. However, with ongoing downward economic pressure on farmers, many are interested in selling or monetizing their lease payments.
• Land cost solutions for developers and project Owners: As the overall cost of solar has decreased, land—which historically represented less than 5% of the overall cost of developing solar projects — is now approximately 15% of total project costs.

SolaREIT has already done land transactions in Maryland and Minnesota, helping both of its solar development partners and the landowners accomplish their financial objectives. SolaREIT’s innovative processes allow for quick and efficient transactions saving time and money for all parties.

News item from SolaREIT

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Original Source: https://www.solarpowerworldonline.com/2020/11/industry-vets-form-solar-site-investment-fund-solareit/