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

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.

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.