Who builds wind farms?
There are a lot of companies building wind farms. Before they can install wind turbines on your property, they need to lease your property rights. The initial contact might be with a landman that wants to lease your property for as little as possible, then flip your lease to a wind farm developer and make a profit. That profit should be yours! LandGate can market your property directly to the developers and get you the best price.
How much should you expect to be paid to lease your property for wind power?
There are a lot of factors that go into what you can be paid to lease your land for wind turbines, such as:
How large is your property? The more property you have, the more wind turbines they can install. The more turbines they can install, the more you will be paid.
Is your property located near roads constructed well enough to move large equipment like cranes and bulldozers?
You will also be paid more if your property is close to transmission lines and/or a substation.
In many cases, landowners are asked to sign an Option Agreement, where they could be paid between $50 and $200/acre/year. The Option Agreement would give the company an exclusive right for 2-5 years to enter into a more formal wind farm lease agreement. The developer may need this option period to secure additional leases, permits or funding. If the company decides to move into the construction phase, then the landowner would negotiate a formal lease agreement. In negotiating a formal lease agreement, the landowner would receive a combination of (1) an upfront signing bonus, (2) an annual payment per turbine and/or (3) an annual royalty payment based on the megawatts generated from the property. The payments will vary based on the number of wind turbines installed on the property. On average, a smaller single wind turbine lease could be valued at around $8,000/year with a larger turbine bringing between $50,000 to $80,000/year.
How much land is needed for wind turbines?
A property does not have to be large to be valuable. A wind farm covers much more than the actual turbines. It requires a lengthy and complex construction project. Landowners are also paid for access across their land, use of their roads and sites to store construction materials, and temporary construction buildings.
How long will the wind turbines be on my land?
A well-installed and high-quality wind turbine could last between 20 and 30 years, depending on environmental factors and maintenance.
How many wind turbines have been installed in the US?
Over 70,000. You can also find these wind turbines and where they are located on our website.
The demand for land to install wind turbines and create wind farms will continue to grow. Get your free Property Report today to learn about your property's wind leasing potential!