27 Dec '13, 4pm

Study: #Wind turbines have no effect on property values in Rhode Island - #renewables

Study: #Wind turbines have no effect on property values in Rhode Island - #renewables

The planning, construction and operation of wind turbines in Rhode Island does not depress nearby property values, according to a study conducted by a University of Rhode Island (URI) economist. Corey Lang, URI assistant professor of natural resource economics, analyzed the sale prices of 48,000 homes in Rhode Island over the last 15 years and compared homes near one of the state's 12 wind turbines to homes far from the turbines. He found that the turbines may cause a drop in property values of 0.4% for those homes within a half mile of a turbine, which is well within the study’s margin of error. “Proximity to a turbine has no statistical effect on property values,” says Lang. He recently presented the results of his study to about 60 people at a public meeting sponsored by the URI Outreach Center and the Rhode Island Office of Energy Resources, which funded his research. ...

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