Would the proposed projects impact property values?

It is notoriously difficult to predict the impact that proposed projects would have on property values. One national study of onshore wind turbines found that homes with a wind turbine within their viewshed saw an average 1% decline (1) in property value. Properties on Block Island, Rhode Island saw no decline in value (2) related to the offshore wind farm constructed off their coast. At the same time, increased economic activity in the greater Humboldt area could feasibly increase property values as the region has more economic activity.

References​

1. Guo, W., Wenz, L., and Auffhammer, M. (2024, March 18). The visual effects of wind turbines on property values is small and diminishing in space and time. Environmental Sciences, 121(13). https://doi.org/10.1073/pnas.230937212

2. Dong, L. and Lang, C. (2022, August). Do views of offshore wind energy detract? A hedonic price analysis of the Block Island wind farm in Rhode Island. Energy Policy, 167. https://doi.org/10.1016/j.enpol.2022.113060