What impact will the offshore Wind Park have on property values in the area?
As part of the environmental review and permitting processes, the Project will perform an economic impact analysis which will address issues relating to effects of the Project on property values for nearby properties and on the tax base of nearby towns. The Project is not expected to impact beach community residential values, and there would be no lost tax base. National and international studies of property located near wind facilities have not demonstrated reductions in property values. The U.S. Government commissioned a study that was released in 2003 that tracked over 25,000 real estate transactions around the largest wind farms in the U.S., and the report found no adverse effects from wind farms on nearby real estate prices. The study was prepared by the Renewable Energy Policy Project, and it reviewed property sales in the vicinity of 10 wind farms throughout the U.S. The study found through statistical analysis that there was no evidence that wind farm development harmed propert
