Study: Wind power development has no impact on home values



A new study from the Environmental Energy Technologies Division of the Lawrence Berkeley National Laboratory has determined that wind power farms do not pose a threat to home values.

Researchers analyzed more than 50,000 home sales near 67 wind renewable energy developments in 27 counties in nine U.S. states, yet were unable to uncover any impacts to nearby home property values.

"Although there have been claims of significant property value impacts near operating wind turbines that regularly surface in the press or in local communities, strong evidence to support those claims has failed to materialize in all of the major U.S. studies conducted thus far," said Ben Hoen, lead author of the study.

Hoen is a researcher in the Environmental Energy Technologies Division of Berkeley Lab. The new study was supported by the U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy.

The study used a number of sophisticated techniques to control for other potential impacts on home prices, including collecting data that spanned well before the wind facilities’ development was announced to after they were constructed and operating. This allowed the 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.

Berkeley Lab also highlighted this was the second study of its kind to analyze the possible impact of wind energy development on nearby homes. The first, conducted in 2009, also concluded that wind energy facilities had no negative effect on home prices.

Read the full report here: A Spatial Hedonic Analysis of the Effects of Wind Energy Facilities on Surrounding Property Values in the US

 

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