Contrary to some wind energy opponents' claims that wind turbines bring down property values, rising agricultural commodity values and tight inventory levels have contributed to a significant upswing in the price of Ontario farmland this year, the Canadian Wind Energy Association (CanWEA) has announced, citing the RE/MAX Market Trends Report – Farm Edition 2011.
‘It is promising to hear that the value of agricultural property has increased in most regions of Ontario, especially in areas like Chatham-Kent and Windsor-Essex, where wind energy has also enjoyed significant growth over the past few years,’ notes Chris Forrest, vice president of communications at CanWEA. ‘This would seem to run contrary to claims made by opponents that wind energy has decreased property values. Chatham-Kent, for example, has enjoyed a significant increase in farmland value in 2011 while also seeing several new wind farms come online.’
"A growing number of farmers are entering into contracts to host wind or solar power projects, while others opt to permit the extraction of gas and natural resources, as seen in markets like Chatham-Kent and Windsor and Essex County. These arrangements have provided an alternate source of income and underscored the budding possibilities that exist for landowners," the report says.
To access the full RE/MAX report, click here.