Texas is a state rich in opportunities for energy production, including both traditional petroleum-based energy and renewable energy like wind and solar. Thousands of homeowners across the state sign leases for oil and gas companies to put wells out on their property.
Some people install home-scale solar or wind power generation setups. Others may actually sell their property because there is interest in utilizing the land for renewable energy production. Especially if you have unimproved land that you purchased as an investment property, you might start considering it as a potential location for solar energy production.
Companies may offer to buy your land so that they can put solar panels and other infrastructure there. Is the sale of your property the best way to benefit from solar energy production as a Texas landowner?
Solar land leases could also be a viable option
Just like those who possibly have oil and gas resources on their land, you have an option of signing a lease for solar energy production on your property rather than simply handing over ownership to the company. An energy lease will result in passive income and could help you command a higher selling price if you list the property for sale.
The process of negotiating such leases can often be difficult, especially because the companies may push for terms that are ultimately unfavorable to you as the property owner. Before you agree to a price or sign any documents related to the sale of your real property or a lease for energy production purposes, you will want to have someone review those documents to ensure they are appropriate for you.
Protecting your interests should be your primary focus
Signing a lease or agreeing to a property sale without checking the fine print can be a life-altering mistake. Big companies often use contracts that put property owners at a marked disadvantage. Your best hope of protecting yourself will involve careful negotiations and the customization of the lease or sale documents to give you as much protection as possible.
Getting the right support when negotiating a solar energy deal with a big company can help protect you from underhanded tricks and maximize the returns you get on the transaction.