The Impact of Wind Turbines on Property Values: Uncovering Unexpected Findings
With the increasing prevalence of wind energy in the US, questions arise about the effect of towering turbines on home prices. Discover the surprising revelations from a recent study on this topic.
As wind energy grows in the United States, people have started worrying about tall turbines affecting property values.
However, a recent study looked at data from 300 million home sales and 60,000 wind turbines across the country. The study found that the impact of turbines on home values is actually lower than expected. On average, homes with at least one wind turbine within six miles only see about a 1% decrease in value.
The study reveals that homes located less than five miles from a turbine experience the greatest impact on their prices. As the distance from a turbine increases, the decrease in property value becomes less significant.
Furthermore, the study shows that even for homes in close proximity to a turbine, the negative effect on property value diminishes over time and eventually disappears within a period of ten years.
To gauge the impact, scientists started by asking a straightforward question, according to Max Auffhammer, a professor at the University of California, Berkeley. "We were curious to know, can you actually see that thing from your house?" Auffhammer shared with CNN.
To find the answer, researchers had to create a detailed mapping database that showed the distance between American homes and wind turbines, taking into consideration factors like changes in terrain.
Lead author of the study, Wei Guo, explained that they analyzed whether a house had a clear view of the turbine or if there were obstacles like mountains blocking the view. They also looked at how the value of the house was affected compared to others in the same area without a view of the wind turbine.
Wind turbines spin at the Traverse wind farm in Oklahoma on April 19.
Wind turbines spin at the Traverse wind farm in Oklahoma on April 19.
Will Lanzoni/CNN
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The study also looked into how large wind turbines seem to people. They discovered that, typically, a wind turbine located five miles away looks about as big as an aspirin tablet held at arm's length. If the turbine were one mile away, it would seem the size of a golf ball.
One of the study's intriguing discoveries is that the decreases in housing value were largely influenced by the early installation of wind turbines in the US in the late 1990s. As we approach 2020, the impact seems to diminish.
Additionally, the study found that the number of individuals living in close proximity to a turbine is quite low, with fewer than 250,000 housing transactions occurring within a mile of a wind turbine.
In the US, a significant amount of wind turbines are located on farmland in the Midwest, Great Plains states, and Texas. Farmers often lease their land to utility companies and receive payment for the use of that space.
In Iowa, which is the second-largest producer of wind power in the country and the biggest consumer of wind energy, many farmers see wind turbines as a reliable source of income. According to Iowa Farmers Union board president Aaron Heley Lehman, this stable income helps protect farmers from the unpredictable nature of farming and yearly crop yields.
The morning sun illuminates a turbine near Weatherford, Oklahoma, on April 18.
The morning sun illuminates a turbine near Weatherford, Oklahoma, on April 18.
Will Lanzoni/CNN
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Auffhammer is optimistic that the data can assist farmers and homeowners in deciding if lease payments can offset any potential decrease in property value.
Researchers of the study mentioned that the increase in acceptance of wind turbines over time could indicate that homeowners and potential buyers are becoming more accustomed to them. They believe that the turbines are starting to blend in with the surrounding scenery, similar to how people now view electrical infrastructure.
One of the researchers, Auffhammer, explained this concept by comparing it to how people initially reacted to electric transmission infrastructure. He stated that when transmission towers were first introduced, people may have found them unsightly and disruptive to the landscape. However, as time passed, individuals became accustomed to them and no longer noticed them while driving down the highway. Auffhammer believes a similar process is occurring with wind turbines.
Editor's P/S:
The study's findings provide valuable insights into the impact of wind turbines on property values. Contrary to initial concerns, the research indicates that the effect on home values is minimal and decreases with distance from the turbines. This suggests that the visual impact of wind turbines is not as significant as perceived. Furthermore, the study shows that the negative impact diminishes over time, indicating increasing acceptance of wind turbines by homeowners.
The article highlights the growing acceptance of wind energy, even in conservative states. Farmers, in particular, see wind turbines as a reliable income source, helping to offset the unpredictability of farming. This acceptance is crucial for the expansion of wind energy as a clean and renewable source of power. As wind turbines become more common, it is likely that their perceived visual impact will continue to diminish, further supporting the growth of this sustainable energy source.
