Researchers at Lawrence Berkeley National Laboratory have performed empirical investigations to address typical community concerns about wind energy and property values. Based on the data sample and analysis, "no evidence is found that home prices surrounding wind facilities are consistently, measurably, and significantly affected by either the view of wind facilities or the distance of the home to those facilities. Although the analysis cannot dismiss the possibility that individual homes or small numbers of homes have been or could be negatively impacted, it finds that if these impacts exist, they are either too small and/or too infrequent to result in any widespread, statistically observable impact.
Atkinson-Palombo, C.; Hoen, B. (2014). Relationship between Wind Turbines and Residential Property Values in Massachusetts. Lawrence Berkeley National Laboratory. Accessed April 15, 2016.
With wind energy expanding rapidly and with an increasing number of communities considering wind development (especially near more populated areas), there continues to be an urgent need to empirically investigate common community concerns. By analyzing one concern, the potential impact of wind facilities on residential property values, this study provides siting process stakeholders with additional information from which to work. The report builds on Berkeley Lab’s previous studies published in 2009 and 2013 by amassing a much larger dataset of home sales near wind facilities sited in urban environments than had previously been collected.
Hinman, J.L. (May 2010). Wind Farm Proximity and Property Values: A Pooled Hedonic Regression Analysis of Property Values in Central Illinois. Master’s Degree Thesis. Normal: Illinois State University,143 pp. Accessed April 15, 2016.
This study of property values on land near a major wind farm in Illinois found that property values were negatively affected before the wind farm was built but rebounded after it was in place.
Hoen, B.; Brown, J.P.; Jackson, T.; Wiser, R.; Thayer, M.; Cappers, P. (2013). A Spatial Hedonic Analysis of the Effects of Wind Energy Facilities on Surrounding Property Values in the United States. Lawrence Berkeley National Laboratory. Accessed April 15, 2016.
This report builds on a 2009 study that also investigated impacts on home values near wind facilities. As part of the new study, the researchers analyzed more than 50,000 home sales near 67 wind facilities in 27 counties across nine U.S. states. In summary, the research did not find any statistically identifiable impacts of wind facilities to nearby home property values.
Hoen, B.; Wiser, R.H.; Cappers, P.; Thayer, M.; Sethi, G. (2009). The Impact of Wind Power Projects on Residential Property Values in the United States: A Multi-Site Hedonic Analysis. Lawrence Berkeley National Laboratory. Accessed April 15, 2016.
The present research collected data on almost 7,500 sales of single family homes situated within 10 miles of 24 existing wind facilities in nine U.S. states. The conclusions of the study are drawn from eight hedonic pricing models, as well as both repeat sales and sales volume models.
Sims, S.; Dent, P. Property Stigma: Wind Farms Are Just the Latest Fashion. Journal of Property Investment & Finance (25:6), 2007; pp. 626–651. Accessed April 15, 2016.
Analysis of transaction data in the United Kingdom found some correlation between distance from a wind farm and property value. However, the data were insufficiently detailed to draw any sound conclusions.