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Wind Farms Have Little Impact on Property Values

A study by Lawrence Berkeley National Lab looks at 50,000 home sales in nine states

Posted on Sep 4 2013 by Scott Gibson

A detailed study by the Lawrence Berkeley National Laboratory finds wind turbines have little if any impact on the value of nearby houses.

Researchers collected information on 50,000 home sales in 27 counties in nine states. The houses were within 10 miles of 67 different wind farms. Nearly 1,200 of the sales were for homes within a mile of a wind turbine. The study covers sales well before the announcement of a wind farm to well after construction.

Wind farms ranged in size from a single turbine to 150 turbines, with turbine size averaging under 400 feet in total height (base to tip of blade). The average turbine capacity was 1.6 megawatts.

"Across all model specifications, we find no statistical evidence that home prices near wind turbines were affected in either the post-construction or post-announcement/pre-construction periods," the study concludes. "Therefore, if affects do exist, either the average sales impacts are relatively small (within the margin of error in the models) and/or sporadic (impacting only a small subset of homes)."

Even for houses located within a mile of a turbine, the study found it "highly unlikely" that the effect on the sales price was larger than +/- 4.9%.

"Regardless of these potential maximum effects, the core results of our analysis consistently show no sizable statistically significant impact of wind turbines on nearby property values," the study says.

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  1. NREL

Sep 12, 2013 3:14 PM ET

Real Estate Values Near WindFarms
by Paul Termin

The cited Lawrence Lab study (which is quite dated) has been quite discredited. Numerous more recent studies both in the US and Canada demonstrate dramatic loss of property values within 2 miles of the 500 foot towers and for properties for which farms might be sited and for properties from which the towers are visible. The most telling questions are 'Would you live near a wind farm' and / or would you buy real-estate near a wind farm. The most recent issues at Falmouth MA suggest no to both.

Sep 15, 2013 12:51 AM ET

'REAL' Real Estate Values
by Rhaud Macdonald

So there certainly aren't any issues with real estate values for property near;
rail lines that carry toxic or flammable liquids (Lac Magentic, Quebec- Mantua Creek, New Jersey- Lafayette, Louisiana), oil pipelines (Mayflower, Arkansas- Yellowstone River- Magnolia, Arkansas- ), oil refineries(Sewaren, New Jersey) freeway,s nuclear power plants, coal fired generators? Hmmm!
Let's think about that ................
...and then there's wind turbines ---which would you choose?

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