Documents filed under Property Values

Invenergy: Property Value Guarantee

Property_value_guarantee_agreement_invenergy-ri_thumb Invenergy's proposal to construct a controversial 1,000 MW natural gas-fired combined cycle facility in Burrillville, RI includes a mandate to offer a property value guarantee to abutting property owners. Invenergy is steadfast in refusing to offer the same agreement to neighbors of its wind energy power plants. A portion of the PVG approved by the Burrillville's town council is provided below. The full agreement can be accessed by selecting the links on this page.
3 Nov 2016

The Amenity Costs of Offshore Wind Farms: Evidence From a Choice Experiment

Lpt_offshore-wind_thumb According to this newest study by researchers at North Carolina State University, an offshore wind farm erected off the coast of North Carolina would reduce coastal rentals and potentially harm tourism, even if the energy project was placed at a maximum distance from shore. The results of the study found 54 percent of survey participants would not be willing to rent a home if the turbines were visible at all, regardless of their distance from the coast. The abstract of the report is provided below. The full report can be accessed by clicking the links on this page. , 
4 Apr 2016

Exploring the impact of the proposed Galloo Island energy project

307007559-clarkson-nanos-galloo-island-wind-farm-study_thumb The Town of Henderson, New York, engaged the Nanos Clarkson Research Collaboration energy consultant team to assist in determining a series of impacts from the proposed Galloo Island wind farm development. The Galloo Island project plan proposes to construct up to 29 turbines with a total nameplate capacity of 102 MW. The turbines will stand 575 feet high, with blade lengths of 210 feet. The executive summary and key findings of the study are provided below. The full report can be accessed by clicking the links on this page.
20 Jan 2016

Wind energy development and perceived real estate values in Ontario, Canada

Windenergy-and-perceivedpropertyvalues_thumb This paper focuses on public concerns about real estate value loss in communities in the vicinity of wind turbines. There are some conflicting results in recent academic and non-academic literatures on the issue of property values in general—yet little has been studied about how residents near turbines view the value of their own properties. The abstract and portions of the conclusion of this paper can be found below. The full paper can be accessed by clicking the links on this page.
27 Nov 2014

Gone with the Wind: Valuing the visual impacts of wind turbines through house prices

Sercdp0159_thumb Abstract This study provides quantitative evidence on the local benefits and costs of wind farm developments in England and Wales, focussing on their visual environmental impacts. In the tradition of studies in environmental, public and urban economics, housing costs are used to reveal local preferences for views of wind farm developments. Estimation is based on quasiexperimental research designs that compare price changes occurring in places where wind farms become visible, with price changes in appropriate comparator groups. These comparator groups include places close to wind farms that became visible in the past, or where they will become operational in the future and places close to wind farms sites but where the turbines are hidden by the terrain. All these comparisons suggest that wind farm visibility reduces local house prices, and the implied visual environmental costs are substantial. The conclusions of the report are provided below. The full report can be accessed by clicking the link(s) on this page.
11 Apr 2014

Gone with the wind: valuing the local impacts of wind turbines through house prices

Windfarmsandhousepricesnovember2013v5_thumb This research provides quantitative evidence of the local benefits and costs of wind farm developments in the United Kingdom. In the tradition of studies in environmental, public and urban economics, housing costs are used to reveal local preferences for wind farm development in England and Wales. The authors compared housing price changes in places close to wind farms when wind farms become operational with various comparator groups. These comparator groups include: places close to wind farms that became operational in the past, or where they will become operational in the future; places close to wind farms sites that were refused planning permission; places close to wind farms that are planned or proposed but are not yet operational; and places close to where wind farms became operational but where the turbines are hidden by the terrain. All these comparisons suggest that wind farm developments reduce local house prices. The findings of the paper are provided below. The full paper can be accessed by clicking the links on this page.
1 Nov 2013

The Vindication of Don Quixote: The impact of noise and visual pollution from wind turbines on local residents in Denmark

The_vindication_of_don_quixote_ifro_wp_2013_13_thumb This paper examines the negative impacts of turbine view and noise on the sale of residential properties. The authors conclude that "noise and visual pollution from wind turbines have a considerable impact on nearby residential properties." and that "local residents who live in close proximity to these sustainable giants experience some very real negative externalities in the form of noise and visual pollution." The abstract and conclusion of the paper are posted below. The full paper can be accessed by clicking the links on this page.
10 Sep 2013

The impact of wind turbine developments on surrounding rural land values in the Southern Tablelands, N.S.W.

Southern_tablelands_-_impact_of_wind_farm_development_on_surrounding_rural_land_values_2013_thumb This 33-page study released by Australian real estate consultant and registered valuer, Peter Reardon, provides sales evidence demonstrating that wind farms are negatively impacting property values. Mr. Reardon's work examined the effect of more than 3000 turbines either in operation or proposed for construction across New South Wales in Australia. The summary of the report is provided below. The full report can be accessed by clicking the link(s) on this page.
1 Sep 2013

Property value impact & zoning compliance evaluation

Tipton-county-bza-mccann-appraisal-presentation_thumb This presentation prepared by appraiser Michael McCann examines the various studies that look at property value impacts near operating wind energy facilities. In this case, Mr. McCann looks at the Tipton County, Indiana ordinance and the effects of the proposed Juwi Wind project known as Prairie Breeze Wind Farm. The project was ultimately approved by Tipton County but a condition was placed on the permit that requires the developer guarantee there will be no negative effect on property values. The full presentation can be accessed at the links at the bottom of this page.
20 Mar 2013

The Impact of Wind Farms on Property Values: A Geographically Weighted Hedonic Pricing Model

Fcn_wp3_2012-pdf_thumb This paper examines the impacts of wind turbines on property values. The researchers look at distance and other factors, including visual effect and shadow flicker. The results found that property values were reduced particularly for properties within 1.5 kilometers of the turbines. The abstract and portions of the conclusion are provided below. The full paper can be accessed by clicking the links on this page.
2 Mar 2013

CASE STUDY: Diminution in Value, Wind Turbine Analysis

Case_study_wind_turbines_diminution_injurious_affection_oct-12_thumb This case study investigates the impact of wind turbines on residential property values. The study looks at homes near the Melancthon Wind Facility located in Shelburne, Ontario, Canada. The project was built in two phases between 2006 and 2008. It consists of 133 GE 1.5 megawatt turbines with a total nameplate capacity of 200 megawatt. Excerpts of the report appear below. The full case study can be accessed by clicking on the link at the bottom of the page.
1 Oct 2012

Property value impact of the proposed Northern Pass transmission line

Sci_adan_41211_(1)_thumb The Northern Pass transmission line, if built, will carry 1200 MW of renewable energy from Canada to New England. The proposed transmission has set off a firestorm of opposition in New Hampshire where the line will bisect the state and travel through sensitive land areas. The debate concerning property value impacts is similar to the that involving wind turbines. Residents in New Hampshire commissioned two studies, a Resources Impact Report and an Appraisal Report, which looked at how the power line will impact their property. A summary of the two reports is excerpted below. Both reports can be accessed by clicking on the link at the bottom of this page.
12 Apr 2012

Values in the Wind: A Hedonic Analysis of Wind Power Facilities

Heintzelmantuttlehedonic_thumb This paper uses data on 11,331 property transactions over 9 years in Northern New York to explore the eff ects of new wind facilities on property values. The authors use a fixed effects framework to control for omitted variables and endogeneity biases. They found that nearby wind facilities signi cantly reduce property values in two of the three counties studied. The results indicate that existing compensation to local homeowners/communities may not be sufficient to prevent a loss of property values. The conclusions of the report are provided below. The full paper can be accessed by clicking on the link a t the bottom of this page.
16 Jul 2011

Hammond property value protection agreement

Residential_property_value_guarantee_agreement_-_town_of_hammond_wind_law_recommendation_-_122810_thumb The Town of Hammond in New York is working to amend its wind law to require developers siting wind turbines within two miles of a property to sign a value guarantee agreement that would ensure property owners are appropriately compensated should they experience a decrease in value due to the turbines.
28 Dec 2010

Julian and Jane Davis valuation appeal

Valuation_tribunals-davis_thumb In 2006, Mr Julian and Mrs Jane Davis' quiet enjoyment of their property had been disturbed by a nearby wind project to such an extent that they were forced to vacate their house, for health reasons. The Lincolnshire Valuation Tribune ruled that construction of the turbines 930 metres away from the dwellings had a significant negative effect on Davis; enjoyment of their properties, that the nuisance caused by the turbines was real and not imagined and it would have an effect on the potential sale price of the properties. Excerpts of the ruling are provided below. The full ruling can be accessed by clicking on the link(s) at the bottom of this page.
23 Oct 2010

Testimony of Michael McCann on property value impacts in Adams County IL

Mccann_appraisal__llc_written_testimony_re_setbacks___property_values_june_8_2010_thumb Certified appraiser Michael S. McCann submitted this testimony to the Adams County Board, Adams County Illinois in reference the impact of industrial scale wind energy development on residential property. Mr. McCann's testimony provides a detailed explanation of the impacts he has found and his recommendations to avoid harm to adjacent property when siting projects. An excerpt of his testimony is provided below. The full testimony can be accessed via the link at the bottom of this page.
8 Jun 2010

http://www.windaction.org/posts?topic=Property+Values&type=Document
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