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URI: Wind turbines don't affect property values

URI: Wind turbines don't affect property values

SOUTH KINGSTOWN, R.I. (AP) — A University of Rhode Island study has found that wind turbine construction and operation doesn't appear to have a negative effect on the property values of nearby homes.

Economics professor Corey Lang determined that proximity to a turbine has no statistical effect on property values after analyzing sales prices of 48,000 homes from the last 15 years. He compared homes near one of the state's 12 turbines and homes far from them.

He found the turbines may cause a drop in property values of 0.4 percent for homes within half a mile of the structure, well within the study's margin of error.

Lang presented his findings last week. The Rhode Island Office of Energy Resources funded his research.

He says a similar study is underway in Massachusetts.

Shutterstock/Stephen B. Goodwin

 

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