A new study from Ball State University looked at whether nearby wind turbines or solar farms lower home values, a common worry when these projects get proposed. Researchers examined Indiana home sales from 2004 to 2024, comparing prices before and after wind and solar projects went up, and comparing homes close to the projects with those farther away. Across 20 years of data, they found no statistically significant, widespread drop in home prices near either type of project.
Some individual results looked negative, like homes within one mile of a turbine in one region selling for 11.5% less, or homes near larger solar farms selling for 6.2% less. But these findings didn't hold up under further statistical testing, meaning researchers couldn't be confident the differences were real and not just normal market variation. Homes near solar projects owned by investor-owned utilities actually sold for 7.9% more after the projects came online, though the study didn't pin down why.
The researchers stress this doesn't mean no individual home was ever affected, just that any negative effect wasn't common or big enough to show up clearly in the data. They also note Indiana's rules on where these projects can be built, including required distances from homes, may play a role in the results. If you're weighing a nearby wind or solar proposal, this study suggests the blanket claim that it will tank your home's value isn't well supported, at least in Indiana.
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