SolaREIT introduces pre-paid lease program

Daily Record Staff//May 17, 2021//

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SolaREIT, a solar real estate investment fund in Rockville, is introducing its pre-paid lease, allowing solar developers to provide landowners with up-front payment for up to 30-years of lease payments. With SolaREIT’s pre-paid lease, landowners can pull forward 10 to 30 years of payments. The new option expands the choices for financing real estate holdings for both developers and landowners to speed solar development.

Solar is a land-intensive technology; the National Renewable Energy Laboratory estimates that solar panels will cover 3 million acres by 2030. The majority of solar projects are on leased property, and the Prepaid Lease allows landowners to maintain ownership of their land while getting paid upfront for the use of their property for solar. Flexible financing solutions such as SolaREIT’s pre-paid lease can reduce the operating costs for projects and expand the number of landowners open to hosting solar projects.