Study Assesses How Wind Farms Affect Property Values

A new study will undoubtedly fuel the debate over how wind energy projects impact surrounding communities, writes Dan Gearino in Inside Clean Energy. The study reveals that “properties within a mile of a proposed wind farm experience an average decrease in value of 11 percent following the announcement of the project, compared to properties located three to five miles away.” However, the effect is only temporary, and “the difference fades away a few years after the project is operational to the point that properties within a mile of a project have values that are indistinguishable from those three to five miles from a project.”

Researcher Ben Hoen says the paper doesn’t account for the potential benefits of wind farms, which could bring new revenue and jobs to local communities and reduce local taxes. “The paper also finds that the negative effects on property values were apparent for wind farms near metro areas, while the effects were not apparent outside of metro areas.”