Housing News

Wind Farms Don’t Hurt Property Values According to Study

Well, you shouldn’t be getting wary this time.

It used to be that only coal plants are criticized by environment advocates. Now, wind farms are debated not because of their environmental impact but because of their repugnant effect on property values of areas near these facilities. How can these non-polluting alternative energy sources affect home values?

Perhaps one cause is how wind farms create tremendous noise that is obviously not conducive to any residential area. It does affect current and future real estate developments and in the end, only the wind farming company benefits from the land.

But the U.S. Department of Energy’s Lawrence Berkeley National Laboratory’s recent study speaks otherwise. After spending three years studying nearly 7,500 sales of homes in 10 communities near two dozen wind farms in nine states, they concluded that wind farms do not affect property values. The press release states, “The analysis revealed that home sales prices are very sensitive to the overall quality of the scenic vista from a property, but that a view of a wind energy facility did not demonstrably impact sales prices. The Berkeley Lab researchers also did not find statistically observable differences in prices for homes located closer to wind facilities than those located further away, or for homes that sold after the announcement or construction of a wind energy facility when compared to those selling prior to announcement. Even for those homes located within a one-mile distance of a wind project, the researchers found no persuasive evidence of a property value impact.”

Ben Hoen of {"@context":"http:\/\/schema.org","@type":"Article","dateCreated":"2009-12-09T04:48:00+00:00","datePublished":"2009-12-09T04:48:00+00:00","dateModified":"2009-12-09T04:48:00+00:00","headline":"Wind Farms Don\u2019t Hurt Property Values According to Study","name":"Wind Farms Don\u2019t Hurt Property Values According to Study","keywords":[],"url":"https:\/\/www.realty.com\/blog\/housing-news\/wind-farms-dont-hurt-property-values-according-to-study\/","description":"Well, you shouldn't be getting wary this time. It used to be that only coal plants are criticized by environment advocates. Now, wind farms are debated not because of their environmental impact but be","copyrightYear":"2009","articleSection":"Housing News","articleBody":"Well, you shouldn't be getting wary this time.\n\n\n\nIt used to be that only coal plants are criticized by environment advocates. Now, wind farms are debated not because of their environmental impact but because of their repugnant effect on property values of areas near these facilities. How can these non-polluting alternative energy sources affect home values?\n\nPerhaps one cause is how wind farms create tremendous noise that is obviously not conducive to any residential area. It does affect current and future real estate developments and in the end, only the wind farming company benefits from the land.\n\nBut the U.S. Department of Energy's Lawrence Berkeley National Laboratory's recent study speaks otherwise. After spending three years studying nearly 7,500 sales of homes in 10 communities near two dozen wind farms in nine states, they concluded that wind farms do not affect property values. The press release states, \"The analysis revealed that home sales prices are very sensitive to the overall quality of the scenic vista from a property, but that a view of a wind energy facility did not demonstrably impact sales prices. The Berkeley Lab researchers also did not find statistically observable differences in prices for homes located closer to wind facilities than those located further away, or for homes that sold after the announcement or construction of a wind energy facility when compared to those selling prior to announcement. Even for those homes located within a one-mile distance of a wind project, the researchers found no persuasive evidence of a property value impact.\"\n\nBen Hoen of Bard College also shares the same findings in the Dept. of Energy's results. His study concludes, \"Our analysis of 280 home sales within 5 miles of the Fenner windfarm, in Madison County, New York failed to uncover any statistically significant relationship between either proximity to or visibility of the windfarm and the sale price of homes. Additionally, the analysis in this report failed to uncover a relationship even when concentrating on homes within a mile or that sold immediately following the announcement and construction of the windfarm. Therefore it is safe to conclude, in this community, a view of the windfarm does not produce either a universal or localized effect, adverse or not.\"\n\nIf this is so, then how come there are still people opposing the building of these energy sources? The answer is simple.\n\nEveryone wants the same silent surroundings like regular villages do have. Apparently, wind mills can't be silenced.","publisher":{"@id":"#Publisher","@type":"Organization","name":"Realty.com","logo":{"@type":"ImageObject","url":"https:\/\/blog.realty.com\/content\/uploads\/Realty-Logo-Small-1.png"},"sameAs":["https:\/\/www.facebook.com\/realtydotcom\/","https:\/\/www.twitter.com\/realty"]},"sourceOrganization":{"@id":"#Publisher"},"copyrightHolder":{"@id":"#Publisher"},"mainEntityOfPage":{"@type":"WebPage","@id":"https:\/\/www.realty.com\/blog\/housing-news\/wind-farms-dont-hurt-property-values-according-to-study\/","breadcrumb":{"@id":"#Breadcrumb"}},"author":{"@type":"Person","name":"Realty.com Staff","url":"https:\/\/www.realty.com\/blog\/author\/admin\/"}}

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