LANSING – As solar energy soars in popularity in Michigan, solar leasing has become a profitable option for farm owners.
Under agreements with private solar developers, farmers can earn rental payments varying from $500 to $2,000 per acre per year, said Charles Gould, the bioenergy & agricultural energy conservation educator at Michigan State University Extension.
“That’s considerably more than what they would be making from growing crops, grains and corn,” Gould said. “The current market price for those commodities doesn’t approach $1,000 an acre.”