How To Decide To Lease Your Property For Wind Power
Is Your Property A Good Candidate For Wind Turbines?
If you are lucky enough to have a property that is located in an area where wind power generation is viable you may be able to lease the rights to develop your property to a developer. You can make good money from such a lease but there are many trade off's.
Wind power developers search the country for good locations, using wind speed data from NOAA and other sources along with GIS data and topographic maps. You may earn several thousand dollars a month for very large wind power turbines placed on your property.
Here are some things to consider and to be aware of before you sign any wind power lease on your property:
1. The life of the wind farm may be over thirty years or more.
2. Once you have allowed wind turbines on your property it cannot be used for some purposes, such as an airport for example.
3. The wind power company will have the right to enter your property at any time it deems necessary and there may be constant work going on to maintain the turbines. You will lose a certain amount of privacy.
4. You have the right to negotiate certain things into the contract such as damage to your fields or grass.
5. Wind power companies can and do go bankrupt. Should government subsidies end or other fuel sources be found cheaper you will be stuck with turbines on your land and may have a hard time getting them removed.
6. Wind turbines emit low frequency noise that can be heard for several hundred yards. If you expect to subdivide your property for housing, which could be more lucrative, or plan to live on the property, this can be an issue.
7. Make sure the wind energy company has done their due diligence and is prepared to comply with the endangered species act, wetlands act and other laws.
8. Learn about the tack record of the company in other areas of the country regarding any of the above items.
9. Be cautious if it is the first wind energy development by the developer.
Keep all of these things in mind when leasing your land for wind power generation. Once you have made the decision to proceed, it is a done deal. Giant hulking wind turbines will be on your property for many years to come. Some find them beautiful, some people don't. Consult with an attorney before signing anything and ask a lot of questions. For more on how to lease your land for wind power generation see. Tips On Leasing Your Property For Wind Energy Development