A recent article in The Ellsworth American, “Osborn approves multimillion-dollar agreement for new wind farm,” states that there is a “small dip initially in property values” around wind farms but “no negative impact in the long term.”
I’d like to point out that there have been multiple studies concerning the impact of wind farms on property values. None of these studies has shown any negative impact. The most recent study, completed in 2013, was conducted by the Lawrence Berkeley National Laboratory. This comprehensive study analyzed 50,000 home sales near 67 wind farms in 27 counties across nine states. The study was unable to find any negative impacts to nearby home property values.
Ben Hoen, the report’s lead author, states that “this is the second of two major studies we have conducted on this topic. In both studies [using two different datasets] we find no statistical evidence that operating wind turbines has had any measurable impact on home sale prices.” [“No Evidence of Residential Property Value Impacts Near U.S. Wind Turbines, a New Berkeley Lab Study Finds.” Newscenter.LBL.gov, Berkeley Lab News Center. Allan Chen. 8/27/2013.]
Closer to home, a recent study of New Hampshire Lempster Wind Power Project “found no evidence that the project has had a consistent, statistically significant impact on property values within the Lempster region. [Magnusson, Matthew. “Impact of the Lempster Wind Power Project on Local Residential Property Values.” Whittemore School of Business & Economics, University of New Hampshire. January 2012.]
Folks near proposed wind farms should know that this topic has been thoroughly researched and the results indicate that home values will not be negatively affected by the arrival of a wind farm.
Charles Baldwin, Development Project Coordinator