Brightfield Portfolio to Feature Real Estate Ready for Solar Energy
CHICAGO, IL - 11/23/2015 (PRESS RELEASE JET) -- Brightfield portfolio to shine a light on the potential for solar development on brownfields, greyfields and other underutilized properties.
Brownfield Listings is pleased to announce it is launching a featured portfolio exclusively for brightfield development opportunities. Brightfields are properties used for renewable solar power generation. The brightfield portfolio on BrownfieldListings.com will feature participating properties tagged as a “brightfield” and showcase them together on a single map. The exclusive placement in the brightfield portfolio will make it easy for solar developers to discover potential brightfield opportunities and reach their points of contact directly.
Renewable energy technologies—particularly photovoltaic (PV) solar systems—make excellent use of brownfield real estate. Solar installations require little maintenance, and some can be mounted directly on the ground without penetrating the surface. Being less intrusive is key to reusing more contaminated real estate in a solar farm, because it can be installed with less site cleanup, or with no cleanup at all depending on the site.
As a lower-cost remediation option that also generates income, solar development on contaminated properties offers a compelling double economic benefit. Infrastructure savings are also substantial relative to other reuse options, because there is no need for water, sewer or major road development. And solar uses produce no noise, traffic, municipal costs, noxious odors or effluents. Indeed, the highest and best use of many environmentally impaired properties is likely as a brightfield.
Solar farm lifecycles and lease terms are typically 20 years, so the property not only benefits from 20 years of income but preserves its future reuse potential. At the end of the lease term, the solar farm that was less intrusive to install is also easier to break down—making the property available for other land use options.
Putting brightfields on brownfields and contaminated properties is a new concept embraced and promoted by the U.S. Environmental Protection Agency (EPA). It targets three of the today’s biggest challenges—urban and industrial revitalization, pollution cleanup, and climate change— which are all reasons why EPA is actively encouraging brightfield development through its RE-Powering America’s Land Initiative. The Initiative has identified thousands of sites around the country that meet basic criteria for solar energy development, from off-grid installations to utility-scale projects. An “electronic decision tree” tool on EPA’s website helps communities, local governments, site owners and other stakeholders explore the feasibility of renewable energy on landfills, formerly contaminated properties and underutilized sites.
Brownfield Listings is launching its brightfield portfolio to give these sites a platform and connect them to solar developers. With the cost of PV solar installations down—80% in the last 5 years—and demand for renewable energy up, there’s never been a better time to list your property to see if solar is the solution. You may have properties already in EPA’s database, or that meet their criteria under the decision tree tool.
Register now to participate in the BrownfieldListings.com brightfield portfolio. Use the brightfield tag when creating a Premium Listing, and checkout with the promo code: BRIGHTFLD.
About Brownfield Listings - Brownfield Listings is the premier property marketplace and project platform for real estate with reuse challenges.
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