Cenatorium and InPlus Energetyka published a report on Tuesday, which shows that wind farms do not negatively affect the value of land in their surroundings. Researchers analyzed nearly 46,000 real estate sales transactions in 26 communes. They included both agricultural land and building plots.
Researchers planned to compare areas with wind farms with control areas where no such infrastructure was built. The research team conducted an analysis based on transaction prices from five years before the farm was launched and five years after it was put into operation. Cities with county rights were excluded from the study because land prices in large urban centers are influenced by other factors – the availability of services, the situation on the labor market and the activity of developers.
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Wind farms without impact on land prices
The study shows that agricultural land in the vicinity of the turbines increased in price at a rate of 7%. per year, while in control areas the increase was 6.7%. Building plots intended for single-family housing increased in value: near farms – 8.1%, in control areas – 8%. on an annual basis.
The dynamics of price changes turned out to be similar regardless of the presence of wind farms in the area. Narratives about sharp declines in real estate prices and the stigmatization of areas where wind turbines are built dominate the public space. This is mainly the result of certain speculations, fears, and negative narratives.
The dynamics are comparable
“The results of the analysis clearly indicate that in the examined sample there is no negative impact of the location of wind turbines on the value of land real estate. Both agricultural land and building plots in the vicinity of the turbines show the dynamics of price changes comparable to areas where such infrastructure does not exist. This means that in Polish market conditions, the presence of wind farms is not a factor lowering the value of real estate,” we read in the report.
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Daniel Urbanowicz, an analyst at Cenatorium, spoke at a press conference about common beliefs regarding rapid price drops and the stigmatization of properties with wind turbines. According to him, these beliefs are largely the result of speculation, fears and negative narratives, and the aim of the study was to verify whether they are confirmed by real data.
