Wind turbines can mean big losses in property values for neighbouring homeowners, according to recent research from the University of Guelph.
But according to that research, the property value loss only happens in communities opposed to wind turbines.
Richard Vyn, an associate professor at the University of Guelph, published his research in the journal Land Economics.
According to his research, homes within 2 km of a wind turbine can drop in value by as much as 9 per cent. Homes within 4 km can lose as much as 8.6 per cent of their value.
Wind power opposition group Wind Concerns Ontario ran with those numbers, broadly estimating that North Stormont homeowners could lose a combined $87.8 million in property values. A 33-turbine wind project is under development in the area, and local opposition group Concerned Citizens of North Stormont has been duking it out with the developer.
Wind Concerns Ontario, however, also took issue with Vyn’s suggestion that widely circulated opposition to turbines is a significant factor in the loss in property values, writing: “For our part, while we are happy to see research into the negative economic impacts of industrial-scale or utility-scale wind power projects, this study didn’t go far enough, or use methodology that would really address the issues.”
