Despite concerns that solar projects could lower property values, new research finds they actually rose slightly in areas near utility-scale solar installations.
Large solar farms do not have a negative impact on nearby property values in the Midwest, reveals a study from a Loyola University researcher. As Kari Lydersen notes in an article for Canary Media, they may even have a slight positive effect.
The study found that property values near 70 large-scale solar farms in the Midwest actually increased by 0.5 percent to 2 percent. The researcher, Gilbert Michaud, noted that the installations can also drive local economic development through new jobs and tax contributions. “The most beneficial impact on property values was from solar farms between 5 and 20 MW in size, perhaps in part because these can be hidden by vegetative buffers.”
The study was a response to concerns by many residents in rural areas that solar projects will reduce property values and have a negative impact on local communities. Michaud hopes local officials will take note, saying, “Many of these folks are now making decisions about whether to host a large-scale solar project in their community, and the potential impacts to property values is often something that comes up in local debates and at local hearings. Data can help tell a story and move the debate beyond anecdotal or subjective arguments.”
FULL STORY: Solar farms don’t hurt nearby property values, new research finds
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