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Developer-funded study claims wind farms do not harm property values
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A new study incorporating data from wind farms in two states uncovered no differences in property values of homes near wind projects as compared with other similar areas.
The real estate study was prepared by Peter J. Poletti, president of Poletti and Associates, an Illinois-certified general real estate appraiser. Poletti and Associates compared sales of homes and farmland properties within an area close to the wind farm – the target area – to those in a control area with similar characteristics but outside any areas of wind farms.
According to Chicago-based Invenergy Wind LLC, which commissioned the study, Poletti and Associates’ conclusions reinforce other studies in recent years that have also found that wind farms have no negative impact on nearby property values. For example, a 2003 study by the Renewable Energy Policy Project of 25,000 property sales within view of 10 wind farms in seven states revealed “for the great majority of projects, the property values actually rose more quickly in the view shed than they did in the comparable community.”
Source: North American Windpower
2 October 2007
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