Gain More Income Through Solar Farming

It is difficult to gain income from farming, especially in the challenging climatic extremes of Australia, and many farmers in New South Wales, South Australia, Victoria and Queensland have been struggling to be able to maintain their traditional farming revenue streams. Fortunately there are some other income generating possibilities from their vast stretches on land, usually with many buildings, and an exciting new one is solar farming.

So what is Solar Farming exactly? Solar farming is when a medium solar panels grid (5 -10kW’s depending on your state allowances) is installed on private property, either on available roof space or mounted on the ground. As long as this solar farming system is able to secure the premier feed-in-tariff scheme then this provides a secure & easily calculable investment return for a period of time, usually set for up to 15 years. The solar panels owner receives an ongoing income for the power fed into the grid that remains for the term of your feed in tariff agreement with your local electricity provider.

2010 was the year where solar farming started to become profitable, financially viable and shown to provide a high yield with low risk. Australia has set government schemes and generous tax incentives to make solar farming financial viable and there are a range of finance options including making it a SMSF (you’ll need to speak to your expert financial advisor about what option is best for you)
This is an environmentally positive and financially rewarding investment that will continue to bring benefits for the next decades…..In 2009, the $8,000 solar rebate was replaced with the combination of fantastic new schemes like the solar bonus feed-un and Solar Credit Schemes. Some of the eligibility restrictions based on the income capacity have been lifted which means as well as residential solar owners, many small or business sites and farms that have a connection to the electricity grid can now take advantage of these new schemes. Be aware that these vary in every State though so you will need to do your research 1st to check your eligibility and any restrictions.

The year 2008-2009 had a massive international oversupply of the PV solar panels. This economic situation has caused the manufacturers to drop the wholesale price of the solar panels. Now, with the combination of the new incentive schemes gives an advantage for the year 2011 to be the best time to install and operate a solar farm. Speak to an expert PV supplier who specialises in solar investments for further information.