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amksenin@lemmy.world 1 week agoThere’s a solar farm 1km away. I heard here it would require like $1m of investment and it pays for itself in 7 years but that’s above my pay grade AFAIK
YMMV. We’ve got a local solar farm & the operation has gone belly-up, changed hands twice. It’s got to be on its third investor/owner. Also depends on the quality of your build & your local weather; that solar field isn’t even fully operational yet. Got hit by a massive hail storm maybe almost 2 years ago, it had to have smashed a couple hundred solar panels.
If you’re interested in it, I’d be very careful. Insure everything. Ask everybody, people in the industry if possible.
There’s no natural disasters here but I’d have to have political connections and be rich if I wanted to do something like this without getting hurt in this country. I rather have less to lose and do something more modest
But out of curiosity, how would the investment numbers look like? They invest 1m on land and get 60% of the returns and I get 40% for the next 20 yeas for example?
I have no idea personally, I’m just telling you what I observe. And from what I’ve observed, it’s not this stupidly simple operation that anyone can do & it’s “basically a money printing machine”, as others on here are telling you.
If it doesn’t make dollars, it doesn’t make sense. As a general rule. That solar farm has gone under & sold ownership twice in idk 7-8 years.
I am pro-solar panel, and I was anti-wind turbine because the old fiberglass blade turbines filled with oil were dumb. But as I understand that technology, too, is improving & idk we’ll have to see how the new ones perform. Seems to me doing these things on a more commercial scale where you’re selling it to the grid can get a little fucky. There are reasons why it’s slowly taking off. There are reasons why people build, then sell, then the buyers sell. It’s probably a tricky endeavor with its own challenges.
You could get a smaller amount of panels at first, and later expand your solar farm. But I don’t know if that would keep the costs low enough to be manageable for you, as solar panels aren’t even the most expensive part of a solar farm. The biggest upfront investment would probably be all the electrical gear, e.g. the inverter, etc.
You could try getting a loan. Demand for renewable electricity is pretty high after all, banks might be willing to invest in something like this.
Sounds like it’d be relatively easy to get a loan or investor with that kind of ROI. Seven years is nothing if it’s consistent and safe.
foggy@lemmy.world 1 week ago
I mean…
So do 1/10th of that. 100k pays for itself in 7 years? Still have 9/10 of your land to play with.
Just a thought. turnkey operations are geist for land ownership.