Page 15 - North American Clean Energy March/April 2020 Issue
P. 15

       Jennifer L. Ioli is a commercial real estate and environmental attorney at the Boston law firm Sherin and Lodgen. She has experience in acquisitions, development, leasing, and financing. In particular, Jen represents retailers, developers, and institutions
on all aspects of commercial real estate transactions, including advising on environmental regulation and due diligence. She can be contacted via email at jlioli@sherin.com.
Sherin and Lodgen /// www.sherin.com
Aaron Olson is a Business Development Manager
at Black Bear Energ, an owner’s representative specializing in onsite renewable deployment for institutional property owners and REITs. The company represents 60 clients nationally who own or control
more than 4 billion square feet of real estate space with a variety of asset types. He can be reached at aolson@blackbearenergy.com.
Black Bear Energy /// blackbearenergy.com
        Corrosion resistant stainless steel fasteners for solar installations.
  WWW.MARFAS.COM | 800.862.7463 |
 Maintenance
Since the term of the solar lease will be 20-25 years, sometimes with options to extend for another five or 10 years, most solar tenants are looking for a site with a brand new roof at the lease inception. That said, however, the landlord will want to retain the option to replace
the roof during the term of the solar lease in the case of emergency, and carve out opportunities to repair the roof during the term of the solar lease, if that becomes necessary. If the roof
is not new at the inception of the solar lease, but contains 10 or 15 more
years of useful life, a building can still accommodate a solar facility. However, landlords will need to negotiate with solar tenants in order to allocate
the cost sharing of a mid-term roof replacement, as well as the mechanical and operational logistics of having to remove and reinstall the panels once the new roof has been completed.
Additionally, landlords should be mindful that solar tenants require a certain degree of insolation assurance, i.e., an understanding that sufficient sunlight will reach their solar facilities for maximum energy production. It
is common for solar leases to contain protective language specifying that landlords will not do anything to impair the sunlight or cast shadows over the solar facilities. Landlords should work
to carve out certain rights that would preserve their autonomy and flexibility for leasing out their primary asset (the building), including the right to carve out existing rooftop installations and landscaping. Landlords will also want the right to relocate and increase the size of rooftop HVAC units, in the event that a new building tenant demands greater HVAC capacity (keeping in mind that the landlord may need to compensate the solar tenant for decreased insolation).
The specialized approach required by these particular challenges necessitates a solid foundation of knowledge by
the owner, as well as the expertise of a lawyer or consultant. While learning the intricacies of a new type of leasing can seem daunting at first, once property owners familiarize themselves with
this trend, they can reap the benefits afforded by solar rooftops.
North American Clean Energy
15
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