Published on December 4th, 2009 | by Zachary Shahan5
Wind Turbines Don't Hurt Property Values
December 4th, 2009 by Zachary Shahan
A new comprehensive study — The Impact of Wind Power Projects on Residential Property Values in the United States: A Multi-Site Hedonic Analysis — conclusively shows that property values are not harmed by wind turbines and wind power facilities.
The study, conducted by Lawrence Berkely National Laboratory shows that neither views of wind facilities nor proximity to wind facilities have any significant effect on property values.
The study examined “7,500 sales of single-family homes situated within 10 miles of 24 existing wind facilities in nine different U.S. states.”
As the report states, neither views of nor distance to wind facilities “have any consistent, measurable, and statistically significant effect on home sales prices.”
Results from this study “are expected to be transferable to other areas,” according to the report.
Even research of proximity to roads, conventional power plants and high-power transmission lines can show a relationship (negative) to property values, according to report co-author Mark Thayer. But not wind facilities.
So, concerns that these gigantic wind facilities are harming their neighbors financially seems to be a myth that can now be laid to rest.
via Business Green
Image Credit: Conor Dupre-Neary via flickr under a Creative Commons license