Increased revenues from Solar Farms are benefitting our communities and work-force
The solar industry is bringing large scale financial investment to the US Economy. In 2019 our industry invested $18.7 Billion dollars into our economy, supporting over 250,000 jobs, and creating 40% of all new electricity generation capacity to the grid.
Solar leases are typically for a 35-40-year period, generating a consistent and stable tax base for counties, and much needed income for landowners. Farmers, who have been struggling just to maintain their farms, are securing a lease more profitable than any crop which allows them to perform much needed maintenance, add new machinery, and make themselves profitable enough to not need to sell of property assets.
With a nearly a 2,000% increase in tax revenues, the benefits to rural communities is obvious. Many of the counties who have embraced solar are reaping the reward, providing them with funds to invest in local services, such as First Responders, Schools, broadband and long needed repairs and upgrades needed for infrastructure. A recent report from NC SEA shows an interesting table:
Finding a balance between solar energy and other land use such as agriculture is always challenging. In this process economic benefits to communities cannot be ignored.
For further reading, please click the link here:
Carson, C., Brookshire, D., Carey, J., & Parker, D. (2019). Increased North Carolina County Tax Revenue from Solar Development [PDF]. Raleigh, North Carolina: NC Sustainable Energy Association..