Solar Panels on empty lot
Hello everyone my name is Rand.
I currently own a 1.5 Acre empty commercial lot in SoCal and was approached with the idea of utilizing it with solar panels (selling power to Edison?) and I'm thinking of taking it into consideration as it might be an easier source of income as opposed to building units and renting them out.
I received a rough quote of $2.5M to completely fill the 1.5 Acres with solar panels. This person also told me something along the lines of financing is much more simple whens dealing with Solar as opposed to rental units. A rough estimate on income produced from this would be somewhere north of $40k a month from selling the power to Edison.
Would love to hear your input on this.
Anybody ever done any business with solar? any help or advice would be very much appreciated.