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Fact Debunked: Wind Power Development Does Not Affect Home Values

Muddassir Katchi December 2, 2013 Comments Off

A recent report from PennEnergy says that a study supported by the US Department of Energy’s Office of Energy and Efficiency and Renewable Energy claims that Wind Power development does not affect nor impact home values nearby it. According to the study conducted by Environmental Energy Technologies of the Lawrence Berkeley National Laboratory, they have analyzed around 50,000 home sales that are located near 67 wind renewable energy development sites in around 27 counties of nine different US states.

A statement from Ben Hoen says that “Although there have been claims of significant property value
impacts near operating wind turbines that regularly surface in the press or in local communities, strong
evidence to support those claims has failed to materialize in all of the major U.S. studies conducted thus
far..

Ben Hoen is the lead author of the said study.

Does this mean that homeowners near these development sites don’t need to worry anymore? The answer is yes – for now. There have been no exact reasons how and why would wind energy development sites affect and impact home values, but over time it may change into either a positive or negative impact towards the market.

Additionally, the study used several techniques to identify and control potential impacts in home prices whenever these renewable energy sites are within their vicinity. It was noted in the report as well that this study was their second attempt to analyze their correlation – where the first one was conducted way back in 2009.

To view the full report about this, click here.

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