The most comprehensive study to date of the effect of wind farm proximity on property values says negative impacts, where they exist, are limited and temporary.
The recently published study by the Lawrence Berkeley National Laboratory involved a half-million real estate transactions within 5 miles of more than 400 wind projects across 34 states.
The study concluded that while there was some temporary impact on property values following the announcement and construction of a wind energy project, that impact did not persist after operation began.
The study’s results closely followed similar conclusions drawn from an earlier Berkeley study done in 2013 and involving 7,500 homes within 10 miles of 24 wind farm facilities across nine states. Follow-up studies in 2015 and 2016 also showed “no unique impact on the rate of home sales near wind turbines.”
Research on the controversial topic argues that any potential short-term impact on property values is offset by advantages like job opportunities in the local economy, community sustainability image and stable rental income.
Regarding the definition of short and long term as used in the analysis, the authors found that property value effects were evident from the time the project was announced through the construction period. The study found that the negative impacts abated three to five years after operation began. These effects were less evident in more rural and less-concentrated counties.
The recent Berkeley study summarizes the research to date as finding “insignificant effects of wind turbines on home values.”
The study did not specifically focus on properties with scenic vistas or those in popular tourist destinations.
To contact the author, Vince Conti, email vconti@cmcherald.com.
