Attorneys from Coughlin & Gerhart, LLP, were among the speakers at a recent meeting at the Cornell Cooperative Extension Offices in Hamden regarding Solar Leases. These leases have begun to be offered to local landowners by renewable energy companies, for the installment of solar paneling.
Zach Morahan and Cheryl Sacco of Coughlin & Gerhart, LLP, spoke to clarify land and tax ramifications associated with the leases. In addition, they were able to give their professional opinion regarding what landowners should consider before entering an agreement.
“From what we’ve seen, these leases are one-sided, benefiting the company installing the solar arrays,” said Morahan. “It is vital to know one’s rights and the restrictions that will come if a lease is signed. Be sure the company has adequate insurance. Research the clauses; these leases will affect land for 20 years or more.”
Cheryl Sacco added, “For those of you with land zoned in the agriculture district, be aware that solar arrays do not qualify as farming to the State’s Agriculture and Markets.”
Solar Leases are an option for those looking to switch to this alternative for their electricity. With the ability to bypass the high upfront cost of panels, equipment, and installation, and instead receive a fixed monthly amount, many are opting for the Solar Lease without reading the fine print.
The attorneys of Coughlin & Gerhart, LLP were happy to educate the public on the possible pitfalls, such as penalties and higher tax assessments that may come with these Solar Leases.
Coughlin & Gerhart, LLP, which was founded in the 1890’s, has grown to be a multi-service law firm, consisting of more than 40 lawyers and a professional support staff. The firm’s main office is located at 99 Corporate Dr., Binghamton. It has convenient branch offices located in Ithaca, Owego, Bainbridge, Hancock, Walton and Montrose, Pa.
