Echoing the findings of similar U.S. studies, new research out of Ontario says wind turbines have no effect on property values of nearby homes and farms.
The University of Guelph conducted the study, whose findings were recently published in the Canadian Journal of Agricultural Economics.
The university says researchers focused on Melancthon Township, home to one of Ontario's first and largest wind farms, and 10 surrounding townships. Located about 100 km northwest of Toronto, Melancthon saw 133 wind turbines erected between 2005 and 2008.
The study analyzed more than 7,000 home and farm sales in the aforementioned regions between 2002 and 2010. During that period, more than 1,000 homes and farms were resold, some multiple times.
In every case, the researchers found wind turbines had "no statistically significant effect" on property values.
Richard Vyn, a professor in the university's department of food, agricultural and resource economics, says he undertook the study to address ongoing controversy about wind turbines across Ontario.
"Our results do not corroborate concerns raised by residents regarding potential negative impacts of turbines on property values," says Vyn.
However, he does note the study examined the effect on property values on homes and farms only as a group. "It does not preclude that there may be some impacts on individual properties."
Vyn suggests the findings may help inform further policy discussion and developments for wind energy in Ontario, and he plans to expand his research to include the entire province.Â
This latest study follows similar reports, such as one released by the U.S.' Lawrence Berkeley National Laboratory. That study also concluded wind turbines have no impact on nearby property values.
