Why Be A Part Of A Windfarm?
#5 Today we are considering “Why be a part of a windfarm?” This is a very important question to ask.
I've been doing windfarm development for a long time now and one thing I've learned is that property is very important to folks. If you bought the property, you certainly want to maximize your investment. Who wouldn't? But if you were left the property, then it becomes what I call legacy property and it may have been in the family for generations. You not only want to use the property wisely, but you have the added thoughts of “What would great-granddad think of this? Would great-grandma approve?” You become very protective of the property. Landowners, especially legacy landowners, kind of view the property as a family member itself. In which case the landowner burdens themselves with caring for this family member. This may be where you are. Either way, you might be asking yourself, “Why should I agree to be a part of a windfarm?”
There are many, but let me give you 8 reasons to be a part of a windfarm:
[if !supportLists]1) [endif]You'll be a part of something much bigger. Most people want to make a difference, help others, be a part of a solution. We have a problem. We have an insatiable appetite for electricity and how we have historically generated that electricity harms us and our planet. Wind energy is a huge step toward correcting that. Will wind replace all other forms of electricity generation? Of course not, but it is part of the answer.
[if !supportLists]2) [endif]You could make as much, if not more, than farming or ranching the property. If you figure how much you make per acre per year by farming or ranching, working hard sunup to sundown, then figure the same for wind, you'll find that wind is much the same or even better. And its additional income, so you literally could be doubling your income.
[if !supportLists]3) [endif]You don't have to lift a finger for this income. Windfarm revenue is passive income. You'll still be earning it whether you get out of bed or not. It won't require any extra work.
[if !supportLists]4) [endif]You can now pursue your dreams (work or leisure). Because your income from the property becomes passive, you then have the time and energy to pursue other things. You could retire, travel the world, start that business you've been wanting to try for years. It'll open a whole new world for you.
[if !supportLists]5) [endif]Your ancestors would be pleased with how their investment is being used. Now I obviously don't know your great granddad, but I think it’s safe to say that he worked hard to make that land produce. I believe that if he were standing here today, he'd be thrilled that you have the opportunity to make a living with his land investment, without even lifting a finger.
[if !supportLists]6) [endif]Your descendants will thank you for the revenue stream. Wind leases vary but they are all long-term agreements that go on for decades. You and I will likely be long gone by the time the windfarm comes to an end. Therefore, whoever you leave the land to will also enjoy that passive revenue stream. They will thank you.
[if !supportLists]7) [endif]Impact to the property from a windfarm is minimal. The footprint of a wind turbine is small, and they are spread out so there is little impact to your property. Sure, there will be foundations poured, collection lines laid, and roads built, but comparatively speaking, the impact on your land is minimal.
[if !supportLists]8) [endif]You have some protection from losing the land. You make money greater than if you had sold the property, but you get to keep it. Nothing is guaranteed, but once built, a windfarm will generate a nice revenue stream for its participants. I know of a man that managed his wife's property that had been in her family for generations. She was sick and couldn't do it anymore, so he was taking care of it and had been for a long time. After signing the agreement, he got emotional and even cried. Seeing this, the developer, rightfully told him that if he didn't have to sign if it was that painful. The man said, “Oh no, you don't understand. This is saving the farm. I've been trying to take care of my wife's affairs, but I can't do it anymore. I was at the point selling the land, it has become too much. In spite of my efforts, I was going to be the guy that lost her family's farm. I was going to be THAT guy! But this is saving her farm.” Nobody wants to be THAT guy. Being a part of a windfarm can protect you by providing a passive revenue stream for years to come.
These are 8 reasons to be a part of a windfarm. You might be able to think of others. Windfarms can't be placed just anywhere, so if you have the opportunity to participate in one with your property, consider these 8 things and jump at the chance. You'll be glad you did.