In the legal field, exercising due diligence means taking the proper steps to satisfy legal requirements and avoid catastrophe. Companies exercise due diligence by investigating a business prior to a merger while an individual may exercise due diligence by ordering a home inspection before buying a new house. Solar due diligence, or the process of analyzing the feasibility and estimating the return on investment of a solar PV project, is really no different. Before investing in a solar farm, it is imperative that property owners examine all benefits and risks through a solar farm feasibility study.
The benefits of solar power have received so much attention in recent years that it can be easy to overlook solar power’s drawbacks. While solar farms help to reduce pollution, decrease human reliance on fossil fuels as an energy source and can yield a very sizeable profit, they’re not the best investment for everyone. In some cases, a property may not receive enough direct sunlight to provide a healthy ROI. Investors may also run into trouble with zoning laws, permits and other legal requirements they didn’t consider before breaking ground for their project. However, by utilizing solar due diligence services, property owners can discover these risks and added expenses before making the investment.
To ensure a solar due diligence analysis is comprehensive and thorough, it must be completed by industry experts. For just $0.03/watt, Innovative Solar Systems will complete a full due diligence analysis. In addition to identifying any possible road blocks and additional expenses, Innovative Solar Systems also helps investors identify the least expensive projects while ensuring the greatest return on investment.
A solar due diligence service by the Innovative Solar Systems team includes the following:
By hiring a professional solar due diligence team to analyze the site prior to beginning the project, investors can save time and money while maximizing their success.