Homes Lose 5% Value Near Utility-Scale Solar Farms Across US

A recent study led by Virginia Tech reveals that homes located within three miles of utility-scale solar farms experience an average 5% drop in value shortly after the projects are built, regardless of whether the solar panels are visible from the property. This decline tends to rebound within 10 years, but it poses a short-term financial challenge for homeowners trying to sell soon after installation. Conversely, agricultural and vacant lands within two miles of these solar facilities have seen prices increase by nearly 19%, driven by developer interest in expanding near existing infrastructure. Larger residential lots, exceeding five acres, appear largely unaffected by the value decline. The findings highlight a growing tension between the expansion of green energy infrastructure and local property values, especially in rural and semi-rural areas. Meanwhile, Auckland Council is exploring diverse uses for storm-damaged land, including community and commercial activities, emphasizing safety and value extraction for residents, with decisions on long-term land use still years away.