NIMBYs Take Note: Study Finds Wind Turbines Have No Significant Impact on Property Value
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7,500 Properties Studied
There might be other reasons left for people not wanting wind turbines near their properties, but it seems like a decline in commercial value isn't one of them. A new study conducted by researchers at the Lawrence Berkeley National Laboratory (the study can be found here (pdf)) looked at many thousands of homes close to wind farms - even some that were very close, between 800 to 3,000 feet - and didn't find a "statistically significant" link.
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Property Value is a Kind of Proxy for People's Preferences
After collecting data on almost 7,500 sales of single- family homes situated within 10 miles of 24 existing wind facilities in nine different U.S. states, the authors of the study conclude: "The conclusions of the study are drawn from eight different hedonic pricing models, as well as both repeat sales and sales volume models. The various analyses are strongly consistent in that none of the models uncovers conclusive evidence of the existence of any widespread property value impacts that might be present in communities surrounding wind energy facilities. Specifically, neither the view of the wind facilities nor the distance of the home to those facilities is found to have any consistent, measurable, and statistically significant effect on home sales prices. Although the analysis cannot dismiss the possibility that individual homes or small numbers of homes have been or could be negatively impacted, it finds that if these impacts do exist, they are either too small and/or too infrequent to result in any widespread, statistically observable impact."
This doesn't mean that no individual houses have been affected, only that on average, it doesn't seem to have an impact.
Via The Impact of Wind Power Projects on Residential Property Values in the United States, Green Inc, Triple Pundit
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