Wind Turbines Hurt Home Values According To Massachusetts Organization
In an attempt to discredit a study released in August saying that home values are not affected by wind turbines being built near them, grassroots organization group Wind Wise Massachusetts (WWMA) released a statement today saying that home values are crushed when wind turbines are built nearby.
This statement refutes the report’s main idea that there is no statistical evidence that home values are negatively impacted by the construction of wind turbines. The authors looked at preannouncement and post construction valuations.
But according to WWMA, homes within two miles of land-based wind turbines can plummet 15 to 40 percent according to Virginia Irvine, president of the WWMA.
Miss Irvine also brings in Michael McCann of McCann Appraisal Services in Chicago who believes wind turbines are devastating to home values. Mr. McCann wrote a letter to the town of Brewster, Massachusetts in September 2011 stating that when wind turbines affect vista views, home values are negatively impacted.
Anti wind turbine activity has increased ever since the Cape Wind project was approved, potentially affecting the views of homeowners who look out onto the Nantucket Sound.
But do wind turbines really affect property values? Even the original report admits that homes within two miles of land-based wind turbines drop in value, but most wind turbines are not built near homes, especially the Cape Wind project. Barnstable, the nearest town in Cape Cod to Cape Wind, will be approximately 5.6 miles away. Edgartown in Martha’s Vineyard will be approximately 9 miles away while Nantucket will be almost 14 miles away.
While beautiful vistas and more clean energy for a state that is leading the country in renewables are at stake, neither side seems to boast overwhelming public support. 250 people attended a recent rally and concert on the Hyannis Green supporting Cape Wind while the WWMA blog has 55 followers (one of those can be attributed to The Alarm:Clock staff) and a friend in the Alliance To Protect Nantucket Sound. Cape Wind is also supported by Better Future Project.