US study finds properties near wind farm enjoy huge increase in value | RenewEconomy

US study finds properties near wind farm enjoy huge increase in value

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US study finds value of 931 properties surrounding El Paso wind farm increased by $65m in just 15 months.

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Another favourite argument of wind energy opponents in Australia, that properties located nearby to wind farms will suffer losses to their real estate value, has been challenged by the results of a new report out of the US.

Newly released assessments of nearly 1000 properties in the southern part of El Paso, located near a wind farm southeast of Calhan, found no decrease in property values since the wind farm’s installation – but rather a combined increase in value of $US65.3 million.

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The study, conducted by El Paso County Assessor Steve Schleiker, tracked real estate sales in the area after a number of homeowners living near the wind farm expressed concern that the turbines and transmission lines were diminishing their property values.

Schleiker followed 931 homes in a 30,000 acre area surrounding the wind farm, from January 2015 to April 2016.

And as Fox New reported last week, the results have told a different story: the houses – including agricultural, vacant land and single family residential properties – with a combined market value of over $US173 million had recently sold for $239 million.

(Fox News, it should be noted, is controlled by Rupert Murdoch, whose newspapers and media have been fierce critics of renewable energy and wind energy in general).

“[It’s] an increase of $65.3 million, so that is good news,” Schleiker said. “Property values are selling higher than what the current assessor’s value is. I’m seeing increase in the median sale price of the properties.

“I have yet to see any diminution in value within the wind farm or transmission line boundary,” Schleiker said.

And with the current housing shortage in the are, he added, it could get even better.

“There’s a lot of pent up demand. Folks now have regained credit. They now have money they want to put as a down payment. Right now is definitely a seller’s market.”

Schleiker will continue to track the sales near the wind farm every month for “a while”, Fox News said.

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  1. Swanson Corners 4 years ago

    So there should be no more hold up in offshore wind. Right now AWEA’s Secretary’s Company, Clean Line Energy Partners is seeking to build thousands of miles of long haul DC transmission entirely through private property to “ship” wind energy hundreds and hundreds of miles on 200′ towers. Their VP Hans Detweiler has been lobbying in Wash. DC for federal eminent domain rights since the landowners and the lawmakers of the States are not OK with this.
    Our best wind energy resources in the US are located offshore but the liberal coastal states fight having turbines in their views. That is the only reason that the US has not ONE offshore wind turbine. Better to take inland views and inland landowner’s private property by eminent domain.

  2. Brunel 4 years ago

    Even 10 years ago farmers in AUS used to collect rent from each wind turbine on their property. I think about $10k/year per pole/turbine.

  3. David K Clarke 4 years ago

    Here’s a press release from the El Paso County

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