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A. Under certain circumstances as described in my report, the negative impact may be similar. Also, in significant view loss situations, as described in my report, I would conclude that, within a reasonable degree of professional certainty, land values may be negatively impacted 17% - 20%.
Editor's Note: Mr. Zarem argues that the appropriate methodology for estimating the 'view' impact of industrial wind turbines on property values is 'paired data analysis'- defined in the The Dictionary of Real Estate Appraisal as: “A quantitative technique used to identify and measure adjustments to the sale prices or rents of comparable properties; to apply this technique, sales or rental data on nearly identical properties are analyzed to isolate a single characteristic’s effect on value or rent.” In the absence of relevant view/turbine data, he derived an alternative paired data analysis for determining view impacts on property values due to wind turbines from Transmission Line view impacts on the prices of single-family residential lots in subdivisions...as...sufficient paired data isolating the effects of view loss due to Transmission Lines exist in the marketplace to reach reasonable conclusions as to market tendencies. This data isolates impacts due to view loss associated with Transmission Lines.
The natural foods grocery chain, Whole Foods, failed to do its homework when it agreed to buy “wind energy” and, thereby, launch the nation’s largest demonstration to date of “ green energy” pseudo-environmentalism!
Three of the interesting conclusions from the analysis:
• “109 huge (32+ story, 350+ foot), low electricity producing wind turbines will be needed to produce the 458,000,000 kWh of “wind generated” electricity that Whole Foods has (in theory) purchased.”
• “$1 million spent for energy efficient light bulbs would avoid the use of 171,550,000 kWh of electricity over 5 years -- which is more than 3 times the 56,064,000 kWh of electricity that a $1,000,000 wind turbine might be able to produce over 20 years!”
• “Like the leaders in other organizations that have undertaken similar pseudo-environmental actions, it appears that Whole Foods executives thought only about the favorable PR benefits they would enjoy, while failing to consider the adverse impacts of their action.”
Editor's Note: According to the World Resources Institute and the U.S. Environmental Protection Agency the top 10 purchasers of 'wind energy' are:
Whole Foods Market Inc. 458,000 megawatts (a year)
Johnson & Johnson 295,000 MW
DuPont & Co. 170,000 MW
Starbucks Corp. 150,000 MW
IBM Corp. 110,000 MW
Safeway Inc. 78,000 MW
HSBC 66,000 MW
NatureWorks LLC 59,000 MW
Advanced Micro Devices Inc. 52,500 MW
WhiteWave Foods 49,500 MW