In this study, we analyzed the investment returns of solar power plants and compared them withthose of commercial real estate. The analysis revealed that solar power plant operators shouldaim for a 10.72% minimum rate of return. In the Paju area of the Republic of Korea, the rent wasconfirmed to be 35,984 won/kW annually for building-based solar power plants and 25,488won/kW annually for ground-based solar power plants to achieve this rate of return. Accordingto our results, if local governments focus on developing solar power plants by leasing publicland, they could set reasonable rents that satisfy both the local government and solar power plantoperators.