Understanding Property Values & Renewable Energy Projects

Property value impacts are among the top concerns for community members and stakeholders when evaluating the approval of a solar, BESS, or wind project. How will the project affect nearby residences, and will local home values decrease, increase, or remain the same? In this webinar, several property value experts present their research findings and experiences from local permitting hearings. First, Dr. Gilbert Michaud and Sampson Hao present their journal article, “Assessing Property Value Impacts Near Utility-Scale Solar in the Midwestern United States.” This research analyzed 70 utility-scale solar facilities built in the Midwest between 2009 and 2022 and found that utility-scale solar projects increase nearby property values by approximately 0.5% to 2.0%. The results also show that smaller projects tend to have a more positive impact on nearby property values than projects that are 20 megawatts or larger. Additionally, Mike MaRous discusses his experience as an appraiser working directly with renewable energy developers and conducting matched-pair property value impact studies for wind, BESS, and solar projects. Mr. MaRous has also provided testimony before local and county zoning boards, as well as state public utility commissions. Finally, Dr. David Loomis, President of Strategic Economic Research, discusses the complementary relationship between economic impact analyses and property value impact analyses. He also shares his experience testifying at permitting hearings and addresses common questions related to property values and renewable energy development.