David Blackmon of Forbes writes about the ways in which ranching and solar co-exist in Texas.
- Lightsource BP, which is owned by BP, has launched solar energy projects on ranches in Texas.
- While the setup does not work for cattle, it works well for sheep herds and provides ranchers additional streams of revenue.
- Lawmakers should recognize the benefits of electricity competition and continue to promote an “all of the above” energy strategy.
“Unlike a standard oil and gas lease, which typically comes with a 3 to 5-year term during which a successful well may or may not be drilled, this solar lease comes with a 35-year term that includes a certain stream of annual income. It won’t make the rancher fabulously wealthy overnight like an oil gusher can, but then, oil gushers have never been a feature of this particular part of the vast Texas landscape.”
Read the full article here.