This from a Chicago-based real estate appraiser who has dealt with wind-energy installations and property values:
Dear Dan:.
I have pretty extensive experience in evaluating wind farms from a real estate value and land use (zoning standards) compatibility perspective, and am fairly well versed on many other issues. However, I do not claim to be an acoustic engineer, medical expert, bird expert, etc. On other real estate valuation cases, I have qualified as an expert witness and testified in court and zoning hearings in 20 states, about 200 times, in both state and federal courts over the last 20 years.
With wind farm matters, I have worked on behalf of neighboring home owners and some (non-participating) land owners on 8 projects thus far, and have consulted with concerned residents of perhaps a dozen other projects. I have also testified at the zoning hearings on these (8) matters, and have reported my findings to the various County Board and ZBA representatives: 25% property value reductions in the “footprint” of the projects and up to about 1 mile out, in some cases.
Dr. Nina Pierpont is an M.D. who is heavily involved and experienced in evaluating medical issues. Her recommendation is that turbines should be sited at least 2 miles (or is it 1.5 miles + ?) from the nearest dwelling. This recommendation comports pretty well with property value impact avoidance as well. Rick James is an acoustic engineer based in Michigan I have worked with, who is very well versed on noise issues and standards.
The LBNL study (see Figure ES-1) shows a 5% reduction in values within 1 mile of the projects, and that is based upon the LBNL report author’s statistical analysis of 128 sales in that particular distance zone. The author’s claim that is “statistically insignificant”, but admit to me that they believe there are some impacts…just not significant from a statistical analysis perspective (under the parameters they selected). The report, however, leads the reader to a different conclusion. My review takes exception with that disproportionate relevance, and I will forward that document to you shortly.
I can assure you, the impacts that the nearest people claim are real, and not just “NIMBY” extremists opposed to everything. I have spoken with residents who are experiencing the sleep deprivation and agitation from the vibro-acoustic effect of living near the turbines. Industry, of course, minimizes all such complaints and claims there is no scientific proof. Click the link at the top of the “primer” I emailed to you, and you will see reams of information and study results that pretty well confirm how disingenuous developer claims and dismissal of neighbors’ complaints really are.
I am not anti-wind energy, mind you. I just firmly believe the rush to meet renewable energy goals is resulting in numerous mistakes, the price for which is being and will continue to be paid by existing residents who do not have the financial resources to fully investigate the issues, and have their rights and interests represented on a “level field” with the deep-pocket developers. I am in business to make money too, but I pro-bono cut my normal rate in half for the citizens groups, in order to help level that very field. My review of the LBNL report is not on behalf of any client, and the work was completed for no compensation. For whatever its relevance, the LBNL study cost $500,000, per media reports.
Sincerely,
Michael S. McCann
McCann Appraisal, LLC
Chicago, Illinois |