Yet another paper appears claiming to show that 400-foot towers that do produce noise and change landscapes have utterly no effect on real estate value

September 14, 2026

Circulating right now through the pro-wind, pro-“renewables” media is a report on a new academic paper out of Ball State University’s Center for Business and Economic Research. The renewables media claims that this report, this paper, resolves any issues around negative impacts on real estate values from industrial wind turbines.

One publication introduced the paper by claiming that property value loss was a common “NIMBY” complaint, and the Ball State paper put that all to rest.

Does it?

Well, no.

We ask, What did you think would happen when a company (usually a foreign power developer) erects huge, landscape-altering industrial power generators that do make noise, do kill wildlife, and alter a community forever? And especially for the properties located in the middle of industrial wind power projects, sometimes surrounded by multiple wind turbines?

It’s worth noting too that this recent paper is sponsored by the U.S. Department of Energy Office of Energy Efficiency and Renewable Energy (EERE), and it was not published in a peer-reviewed journal but solely on the university website. In other words, there is a straight line from money from a government office promoting wind power to an academic paper supporting its work. (The office has since been dissolved as a standalone entity; in November 2025, it was announced that the organization is gone as part of a new policy to “restore common sense to energy policy”.)

So what does the paper say and how does it justify its stance?

A Canadian real estate consultant/real estate appraiser looked at the Ball State paper, and posted this comment on his LinkedIn page.

The text is here:

Wind turbines and property value loss: is this study the answer?

With some regularity, studies are published that purport to resolve the question of whether the presence of wind turbines in a community has the effect of reducing property values. The most recent attempt comes from Ball State University, in a paper written by two people with PhDs in economics and a research analyst whose field is “economic geography”. All are with the Center for Business and Economic Research at the university. (Faulk, Hicks and Peyton, “A hedonic analysis of wind power facilities in Indiana, 2026.)

So, does this paper, sponsored by the U.S. Department of Energy (and not published in any journal), answer the question for once and for all?

No.

The best one can say about this analysis is that it is inconclusive. 

The literature review is very selective and misses some important studies, notably some of the work done by  researchers at Clarkson University. Nevertheless, studies referenced indicate property value loss of 1.4 to 14 %. That’s not nothing. (Inexplicably the authors cite a study where property value loss was 6%, which they dubbed “insignificant”.)

The authors used “hedonic difference-in difference regression models and event studies.” Data employed in the analysis is limited to sales of residential properties within 5 km of a turbine.  Sales, from MLS data, were examined in three bands:  0- 1 mile, 1-2 miles, and 2-3 miles.

The authors used properties 3-5 miles from a turbine as a control group.

Sales occurred  between 2004-2024, with the wind power sites having been built 2008 to 2023.

In my opinion, the “control group” is within the impact radius of audible sound/infrasound/light/viewshed of the turbines making the analysis suspect.

A very common impact of turbines on the real estate market is to suppress it. There should have been some analysis of sales volumes over time to make sure that the presence of turbines did not limit the pace of the market, which is an impact on the marketability of properties not measurable other than through study of MLS expired and withdrawn listings.

The results of this exercise, according to the Conclusions, are that “proximity to wind turbines does not have a statistically significant negative effect on the sale price of homes.”

That said, the authors are not necessarily adamant about this conclusion. In fact, they qualify and frankly waffle on that statement by adding:

“Difference in differences results are average treatment effects and individual properties may experience differing effects.”

“The results of this study are not able to refute the claims that some nearby properties are negatively affected.”

So does this “resolve” the issue of wind turbines and property value loss for once and for all, as touted by the media?

Absolutely not.

Norris Wilson, B.A., AACI, P.App

Ottawa

contact@windconcernsontario.ca