Property values & wind energy
Scenic views and visibility of human development of all kinds – not just wind power development – can both positively and negatively affect property values. However, numerous studies have shown that wind power does not affect property values long-term. In fact, wind power actually benefits property owners by driving community economic development.
A second major study on wind farms and property values conducted by the Lawrence Berkeley National Laboratory and released in August of 2013 analyzed more than 50,000 home sales near 67 wind facilities across nine U.S. states and did not uncover any impacts to nearby home property values.
This new study used a number of sophisticated techniques to control for other potentatial impacts on home prices, including collecting data that spanned a time period from well before the wind facilities' development was announced to after they were constructed and operating. This allowed researchers to control for any pre-existing differences in home sales prices across their sample and any changes that occurred due to the housing bubble.
This study, the most comprehensive to-date, builds on both a previous Lawrence Berkeley National Laboratory study as well as a number of other academic and published U.S. studies, which also generally find no measureable impacts near operating turbines.
According to Ben Hoen, the lead author of the new report, "This is the second of two major studies we have conducted on this topic, and in both studies, we find no statistical evidence that operating wind farms have had any measurable impacts on home sale prices."
What additional studies say about wind power & property values
“Neither the view of wind energy facilities nor the distance of the home to those facilities was found to have any consistent, measurable, and significant effect on the selling prices of nearby homes,” a 2009 Lawrence Berkeley National Laboratory study found.
“Property tax payments of 1% of the assessed value of a wind project equal approximately $10,000 per megawatt for rural communities each year,” the National Renewable Energy Laboratory reported.
For members only: View important studies on property values and wind energy.