Solar farms can be one of the safest, easiest ways to invest. But many factors can contribute to a failed project. Some solar farms just never get built. It’s important to know how to avoid those circumstances.
Some solar farms are thwarted by neighbors’ opposition, so it’s critical that a site is chosen that is compatible with its surroundings. While solar farms are certainly more attractive than other industrial ventures such as factories or traditional power plants, neighbors can raise objections over their sizes and a general feeling that they “mar” landscapes.
Another reason solar farms can fail to reach completion is the long permitting process. Numerous surveys must be completed before power companies allow them to be built. These permits include wetlands studies, environmental impact studies and proceeding successfully through the rigorous requirements of power companies. It’s important that investors choose projects that are approved and, as they say in golf, “teed up” and ready to be built. Innovative Solar has dozens of such projects available that offer investors great returns.
Proximity to historical or religious sites can also be a deal breaker. Solar farms in Hawaii, for example, have been rejected because of their proposed location which historians and others felt were too close to World War II historical sites. Being too close to a sacred Native American burial ground can also be a deal breaker.
Done well, though, properly engineered and sited solar farms are one of the few investments which are virtually maintenance free and can provide years and years of financial returns. Europeans have been on the solar bandwagon for so many years that Germany, for instance, has almost built all the country can accommodate. The U.S. has nearly tripled its solar capacity during the past three years. Now is the time to invest – in the right solar farms.