Commercial Wind Turbines and Residential Home Values: New Evidence of Land-Based Projects in the US
This webinar highlights key information from Berkeley Lab research entitled “Commercial Wind Turbines and Residential Home Values: New Evidence from the Universe of Land-Based Wind Projects in the United States.” The study authors compiled a unique dataset that includes home transactions across 34 states and 428 unique wind projects occurring between 2005 and 2020. The dataset spans the period 4 years before major activity began occurring in the project area, referred to as “announcement,” to more than 6 years after the project began operating. This allows an unprecedented examination of impacts to sales prices through the full wind project development cycle.
Among other results, the new study of half a million transactions across the country finds evidence of temporary decreases in home sale prices in more populous counties within 1 mile of wind projects, starting after the project's announcement but returning to pre-announcement levels 3–5 years after operation begins.
The authors describe the data, methodology, results and conclusions from this new study.
The work was made possible through funding support of the U.S. Department of Energy’s Wind Energy Technologies Office.