Miyota Ooyachi | Solar Farm
Feed-in Tariff contract for 38.88 JPY per kWh, effective till March, 2034.
214 sqm for land
For sale at: JPY 10,320,000
Aerial view by Google Earth
Neighbor view by Google Street View
This for-sale property is a solar farm and its site in a residential area in Miyota.
The solar power generation facility started operation in April 2014, and a purchase contract (power receipt contract) has been concluded with Chubu Electric Power Company at 38.88 yen per kWh based on the "Feed-in Tariff Scheme for Renewable Energy" until March 2034.
The solar panels manufactured by Mitsubishi Electric have a 20-year warranty and are still generating electricity. The power conditioner has a 10-year warranty, which will soon expire as a product. The actual income from electricity sales has averaged approximately 590,000 yen per year for the eight years from 2015 to 2022. The equipment is depreciated over 20 years, but no depreciable property taxes are levied as the tax base is already below the exemption point. The only cash operating expenses are the property tax on the land, fire insurance, and the electricity bill for the power conditioner, which is approximately 30,000 yen per year in FY2022. For tax reporting, depreciation (¥272,698/year, fixed amount for 20 years), transportation costs, and other expenses are to be added to this amount and recorded as expenses.
In addition to the purchase and sale of the land, it is necessary to apply to the Ministry of Economy, Trade and Industry (METI) for the transfer of the project in order to receive the power plant. After the contract is signed, the seller and buyer will jointly file the application, and both the land and equipment will be delivered upon completion.
The land is located in a residential subdivision, so after the power generation project is completed, the land can be used as normal residential land for personal use (e.g., to build a house) or the land can be sold after the equipment is removed.
We look forward to hearing from interested parties.
See also our other property listings.