Published in a recent issue of the Canadian Journal of Agricultural Economics, the study is believed the first peer-reviewed study on this issue in Canada.
It was conducted by Richard Vyn, a professor in the Department of Food, Agricultural and Resource Economics, and Ryan McCullough, a former U of G graduate student and now a policy analyst for Health Canada.
They analyzed more than 7,000 home and farm sales in Melancthon Township and 10 surrounding townships in Dufferin, Grey, Simcoe and Wellington counties. Melancthon, located about 100 kilometres northwest of Toronto, is home to one of Ontario’s first and largest wind farms; 133 wind turbines were erected between 2005 and 2008.
The study included sales data over an eight-year period – from 2002 to 2010 – to capture property values before, during and after the wind farm’s development. During that period, more than 1,000 homes and farms were resold — some multiple times, which allowed for repeat sales analysis.
Using a method common in real estate studies, the researchers created six models accounting for the impact on property values of proximity to the wind farm development and turbine visibility, as well as a combination of these two factors.
In every case, they found wind farms had “no statistically significant effect” on property values.
via www.enn.com
