Survey: Interest in leasing farmland for solar projects is rising
Interest in leasing farmland for solar energy projects is on the rise, according to the latest Purdue University/CME Group Ag Economy Barometer.
Purdue University’s Jim Mintert says farmers who reported having discussions about solar leasing were asked about lease rates.
“Twenty-five percent of the people said they were offered a rate of less than $500 an acre,” he says. “On the other end of the spectrum, 34 percent of the producers that engaged in some discussions with solar leasing companies said they were offered a rate of $1000 per acre or more.”
He says farmers should be aware of the different rates being offered.
“The rates being offered are pretty much all over the map and I think it behooves producers that are starting to have some of these discussions to be a little cautious about signing an agreement that’s at the lower end of the spectrum and maybe do your homework,” he says.
The monthly national survey of 400 agricultural producers was conducted November 15-19.