Property Fact Sheet

Posted by Ryan Dutka . on Friday, August 29th, 2014 at 9:50pm.

 
WINDVISION 2025 POWERING CANADA’S FUTURE
Wind Energy: Providing Significant Local Economic Benefits
 
There are a number of factors that impact property values
and it is difficult to isolate the potential impact of any single variable.
 
What we do know is that multiple studies have consistently found
no evidence that wind energy projects around the world
are negatively impacting property values.
 
In fact, wind energy projects provide new sources of stable revenue for municipalities
and landowners in the form of taxes and lease payments.
 
A 2010 study conducted in Chatham-Kent, Ontario, found there was no statistically
relevant relationship between the presence of a wind project
and negative effects on property values
 
A similar analysis by the US Department of Energy’s Lawrence Berkeley
National Laboratory found that proximity to wind energy facilities
does not have a pervasive or widespread adverse effect on the value of nearby homes.
 
Researchers examined 7,500 single-family property sales between 1996 and 2007,
covering a time span from before the wind farms were announced
to well after construction and operation. 2
 
Lawrence Berkeley National Laboratory found that proximity to wind energy facilities
does not have a pervasive or widespread adverse effect on the value of nearby homes.
 
Researchers examined 7,500 single-family property sales between 1996 and 2007,
covering a time span from before the wind farms were announced
to well after construction and operation.
 
WHAT DO THE EXPERTS SAY?
“The Board finds there is no evidence to allow the Board to conclude
that since the construction of the wind farm properties on what [the landowner]
defines as the west side of the Island have sold for less than properties on the east side.
 
Municipality: Township of Frontenac Islands A 2010 study looking at property
values near the 396 MW Twin Groves Wind Farm in Illinois found prices
were negatively affected before the wind farm was built, but rebounded after it was in place.
 
“In the study area, where wind farms were clearly visible,
there was no empirical evidence to indicate that rural residential properties
realized lower sales prices than similar residential properties within the same area
that were outside the viewshed of a wind turbine.”

SOURCES
1. Wind Energy Study
- Effect on Real Estate Values in the Municipality of Chatham-Kent
(Canning Consultants Inc. and John Simmons Realty Services Ltd., February 2010)
 
2. The Impact of Wind Power Projects on Residential Property Values
in the United States:
A Multi-Site Hedonistic Analysis
(Ben Hoen, Ryan Wiser, Peter Cappers, Mark Thayer, and Gautam Sethi, December 2009)
 
3. Wind Farm Proximity and Property Values: A Pooled Hedonistic Regression Analysis
of Property Values in Central Illinois (Jennifer L. Hinman, May 2010)
 
BACK TO WIND ENERGY IS IT SAFE..........

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