Next Generation of Farming is Seeking funding for the development of a 150 Acre Solar Farm
About Us and Our Objective: We have a strong opportunity to build and develop “The Peterson Family Solar Farm”, in North Carolina. Like many people who own family farm land or will inherit family farm land, we are working to keep our land in the family. My father was an agriculture farmer, and since I am not a farmer, we decided to take up a new way of farming, by becoming Solar Farmers. We are seeking funding to turn our family farm land into a Solar Farm. A state law requires utility companies to buy or produce 12.5 percent of their energy from alternative sources by 2021. The value of a solar farm is typically measured at about $1 million or more per megawatt. The Peterson solar farm would cost between $20 million and $25 million to build. We will produce renewable solar electricity, from our solar urban farming with ZERO EMISSIONs, ZERO LANDFILL, and ZERO Chemicals to the Land or Environment.
Owners: Peterson Family
Where: Rich Square, Northampton County, North Carolina, US
Size: Potential 20 Megawatt Solar Farm, with About 236,000 panels on 125 - 150 acres
What: 20-megawatt solar farm capable of generating power for about 5,000 homes.
Average Cost: $20 - $25 million.
Average Revenue: $600K - $750K annually
Area Electric Companies: Roanoke Electric and Dominion Energy Territory
In terms of Revenue, you can earn in the ballpark of $25,000 - $40,000 per year by selling the electricity from a 1 MW solar farm. Here's an explanation of how solar farms generate revenue. Utility-scale solar farms sell their power by entering Purchase-Power Agreements for their generation on the wholesale electricity market.
North Carolina currently ranks 2nd in Solar, and ranks 3rd as having the
third highest amount of solar on its power grid in the country.
Interconnection is the first hurdle for project development. Interconnection means you have permission from the utility to connect and operate your solar project in parallel with the utility grid. They can’t say no to you, by law, but many areas are just too expensive to interconnect viably, so it’s highly important to figure out early on whether your project can be interconnected affordably.
One of the roles of Roanoke Electric and Dominion Energy’s Electric Transmission Planning group is to perform planning studies to ensure delivery of bulk power to a continuously changing customer demand under a wide variety of operating conditions.
Environmental Study is the second hurdle, to ensure Efficient Land Use Early mapping for proposed solar projects can identify biological and cultural resources, agricultural lands, and regional land use patterns to identify areas where solar development will have the least amount of land use impact and less impact on the local environment and local eco-system. Using land efficiently can….
1. Minimize Wildlife Habitat Disturbance and Protect Ecology
2. Protecting Water Resources
3. Land Reclamation and Restoration
4. Sustainable Grounds Keeping
5. Form Partnerships and Consultations with Environmental and Wildlife Agencies
- We need $50K seed funding, to just get the studies done, so that then our Business Plan can be created.
- We also need a partner to fulfill a $20MM - $30MM financing goal so long-term financing can come on board.
- We seek to secure PPAs in the North Carolina area, which is vital to our success.
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