What financial impacts do wind turbines have on property values in various geographic locations?
Property value impacts due to wind turbines have long been a topic of conversation in various communities.
Each community is different and each has its own viewpoints and opinions. However, it should be noted that multiple studies around the world have consistently shown there is no causal relationship between wind farms and negative impacts on property values.
A January 2014 peer-reviewed study published in the Canadian Journal of Agricultural Economics – The Effects of Wind Turbines on Property Values in Ontario: Does Public Perception Match Empirical Evidence? – examined the potential impacts of wind turbines on property values in Melancthon Township (in southern Ontario) following the construction of a large wind farm. The study of data on 5,414 rural residential sales and1,590 farmland sales found that “these wind turbines have not significantly impacted nearby property values.”
The results of another study – Effects of Wind Turbines on Property Values in Rhode Island (2013) – suggest that there is no statistical evidence for negative property value impacts of wind turbines. These results are consistent with another 2013 study prepared for the US Department of Energy, which examined impacts of large wind farms using data collected from more than 50,000 home sales among 27 counties in nine states.
(Question originally answered February 2014)