Do Commercial Wind Turbines affect Residential Home Values?
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About this
Study
This study uses a unique two-part approach of combining data and models to see if commercial wind projects affect residential home values. The numbers show they they do, but only for a limited window during the construction of the project. This is based on National CoreLogic Real Estate Data and US Wind Turbine Database Data, covering 34 states, 460 counties, and 20,752 turbines. For residential Real Estate, the study finds that home sale prices near wind projects experience an average 11% reduction within 1 mile after the project's announcement, then gradually return to pre-announcement levels after operation begins. Residential sales greater than 1 mile away showed less impact, and only temporarily. Commercial Real Estate sees little to no significant impact.