Study hints at cost of wind development

A professor who researched wind turbines and property values recommends communities think hard about homeowner compensation.

The study is titled “Values in the Wind: A Hedonic Analysis of Wind Power Facilities.” It examines property values near wind farms in Lewis, Clinton and Franklin counties.

“Homeowners who sell leases to developers are, presumably, adequately compensated,” said Dr. Martin D. Heintzelman, a Clarkson University assistant professor of economics and financial studies.

“Nearby homeowners, however, do not generally receive any direct compensation, and it is possible that PILOT payments are not completely making up for losses dealt to this group,” he continued. “So, it may be necessary to develop other schemes which would compensate these affected parties.”

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