Researchers from Ball State University analyzed Indiana home sales data from 2004 through 2024 to determine the impact of renewable energy projects on property values. The study compared sale prices for homes located near wind turbines and utility-scale solar farms against those situated further away.
The analysis found no statistically significant evidence of a widespread negative effect on residential property values near wind or solar developments. While some individual models showed minor fluctuations, such as a 11.5% decrease for homes within one mile of wind turbines, these results were not statistically discernible from normal market variations.
For solar projects, homes within half a mile of facilities owned by investor-owned utilities showed a 7.9% increase in sale prices after project completion. Researchers noted that this could be linked to improved project maintenance or local tax revenue, though no direct cause was established.
The study also highlighted the regulatory context in Indiana, where 40 out of 92 counties had bans or restrictions on wind development, and 24 had restrictions on solar as of September 2025. These local siting rules and setbacks may contribute to the observed stability in property values.
