“One of the most comprehensive studies to date on how solar projects affect housing values suggests that siting large arrays on suburban greenspace can harm home values within a 1-mile radius.
The study from the University of Rhode Island, released in September, looked at more than 400,000 transactions in New England over a 15-year period. It concludes that in areas where open space is scarce, covering undeveloped land with solar panels can cause an average 5% decline in home values relative to homes 1 to 3 miles away.
The analysis found very little to no impact on home values when solar arrays were built in rural areas, or on landfills and industrial areas. It did not distinguish between projects based on aesthetic factors such as setbacks or buffers.
“The key takeaway for me is that these results are picking up the loss of a valuable amenity: green space,” said Gregory F. Nemet, a professor in the La Follette School of Public Affairs at the University of Wisconsin-Madison who studies the interaction between energy systems and public policy. “This is not about proximity to solar panels being a negative.””
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Prevost, Lisa. Energy News Network 20 October 2020.