Solar panels on farm land
A company reached out to me about putting solar panels on my farm land. It’s currently being rented out (half of it) to a cotton farmer, where he only pays $37,500 a year (low for the area, I could be getting $50,000 at the mid). I have a total of around 640 acres on flat land. I have about 240 irrigated acres and the rest is dry land. They are offering $1,100/acre and a 2% escalator. They are also saying up to 5 years for construction ($25-45/acre) until it’s built. Then $500/acre during the 5 year construction phase. My issue is this farm is a trust for my 2 kids and I don’t want to make a mistake that I can’t take back. I’ve read that many, many people are against this and often times companies go bankrupt, leave their solar panels, and don’t pay out. Anyone have any advice? I will clarify that I’m in west TX and will definitely have a lawyer of my choosing look at this first.