If you would like to lease all or a portion of your property to Duke Energy, we’ll begin with an evaluation of your property to determine viability and include a cost-per-acre estimate. Qualified property owners will receive a detailed breakdown of the preliminary offer along with the terms and conditions of payment during our site assessment phase.
What is the average length of lease?
The average lease term is approximately 30 years, with options to extend to 35 to 40 years.
If I lease the acreage, am I paid monthly or annually?
Typically lease rent is paid annually, but we can work with the landowner if more frequent payments are desired.
Is the annual leasing rate increase variable or fixed?
Annual leasing rates are fixed, with rates increasing typically by 2% annually.
What modifications will be made to the property over the course of lease?
Any alteration, addition, improvement or change made to the property will be only that which is necessary for the reliable operation of the solar facility.
How often would terms of lease be renegotiated?
The lease agreement would be negotiated once at the beginning of the process, and once executed, any change or amendment to the lease agreement would need to be made mutually by the parties.
When the lease expires, will the property be returned to its original form?
We have a comprehensive approach and process that helps ensure sites are restored as close as possible to the pre-existing conditions, and all materials used in construction of the solar arrays are salvaged, recycled, or disposed of in an environmentally sound manner. Most solar sites have a life span of approximately 30-35 years.
How is a usable acre defined?
A usable acre is the gross acreage of land including shade buffers, less any acreage located within public road right of way, wetlands, jurisdictional streams, NCDEQ-required stream buffers, watersheds, endangered species habitat, sites of protected cultural resources and/or flood plains, as determined by the survey or Tenant’s investigation of the premises.
Is any substation placed on site? If so, is that considered “usable acreage”?
Depending on the location of the proposed facility and the nearest substation, a new substation may be placed on site for purposes connected to solar generation. If a substation is placed on site, the substation facility will be considered usable acreage.
Will a permanent right of way be established that will continue to exist even after the lease ends?
Should an easement or right of way be required and granted to Duke Energy and it is not in use or required for electric purposes, this property right can be released or subordinated as required.
