MJBiz - July/August 2024 - 39

Glass House Brands' solar panels can power two 20-acre greenhouses. Photos courtesy of Glass House
studies, so you're in the right
location to benefit from it. Then,
you need to find the sweet spot in
terms of size and cost of the system
and structure so that you can spend
the minimum amount of money to
get the maximum amount of energy
in return, " Farrar said.
LOCATION, CONDITIONS KEY
Solar productivity varies depending
on business location and local
sunshine conditions.
The Solar Energy Industry
Association found that 1 solar
megawatt can power more than
250 homes in sunny states such
as California, Hawaii and New
Mexico but only around 100 homes
in low-sunshine locations such as
Washington state. In short, the less
sun your location gets, the more
panels you will need.
Farrar said a solar study can
be done almost entirely online.
It includes a Google Maps photo
of the site and mapping the size
of the array. Models can predict
expected irradiance for specific
locations and then forecast how
much electricity you can expect to
generate based on the capacity of
your solar panel arrays.
According to Coldwell Solar, a
California solar energy consulting
firm, a 1-megawatt solar farm
could cost between $890,000 and
$1 million.
To determine when you'll see
your return on investment, figure
out how much less in electric bills
you will pay per month-and don't
forget to factor in savings that can be
achieved through rebates.
" Make sure you do a solar study.
It's an ROI calculation, " Farrar said.
It's also possible to buy agricultural
and commercial property that comes
with solar panels, as Glass House
did. Agricultural and commercial
properties with solar panels
often can be found by perusing
commercial cannabis real estate
listings.

MJBiz - July/August 2024

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