A solar company letter offers a signing bonus. Is it legit?
Short answer: letters like this are common and can be real, but a bonus is not proof of a real project. Check the company and the project before you sign anything, including a "letter of intent."
These letters are common
Farm Journal reported on an unsolicited letter that offered a farmer an extra $1,000 for signing a letter of intent and $3,000 more on signing the lease (Farm Journal, via University of Kentucky). Companies often send options to many landowners and build only on the sites that work best (National Agricultural Law Center).
Check before you sign
- Look the company up in the Texas Comptroller's free Taxable Entity Search (Texas Comptroller).
- Find the project in ERCOT's list on your county page, and ask for its INR number.
- Read what the "letter of intent" commits you to. Some are more binding than they look.
- Be wary of pressure to sign quickly, or to skip your own attorney.
Full steps: how to check whether a project is real.
Related questions
General information from the sources linked above, not legal, tax, or financial advice.