Wind Turbines no more affect the Property Rates in Ontario

•   February 27,2015
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Wind turbine converts the kinetic energy into electrical power through the means of wind. Wind energy or wind power is extracted from the wind to generate electricity, mechanical power, water pumping, etc. Windmills, wind turbines and wind pumps are technologies which has revolutionized the use of clean and natural energy sources.

Wind energy is amongst one of the best alternative to fossil fuels. The fight against global warming has increased the demand for the use of clean and natural resources to generate electrical power to accommodate the industrial and general energy demands.

Investing in onshore wind farms is less expensive than coal, fossil fuels or gas plants. Wind farms is made up of many individual turbines which help the transmission of electrical power through a connected network. The report titled “Global Wind Turbine Tower Industry Market Research Report 2014”, provides an in-depth analysis of the global wind turbine tower market and the growth forecast for global market in the coming years. 

The speculations related to the property rates being affected by the presence of wind turbine or wind farms has been put to an end. Recent research findings by the University of Guelph, Canada has stated that the prices for almost 7,000 homes located near wind turbines was not been affected at all. The research findings have contradict the earlier research study by the London school of economics. 

“This may help address the controversy that exists in Ontario regarding the impact of wind turbines on property values, it’s been in the news for a while now, and it seems to be generating more and more concerns among local residents,” said researcher Richard Vyn. 

Vyn further adds, “I wanted to see whether the stories people are telling and the concerns that they are expressing show up in the sales data.”

The research study from the Guelph University includes 7000 residences and farm sales across 11 townships in Ontario, Canada. The researchers have examined the property sales data during the period of 2002-2010. This helped them to get an extensive knowledge on the differences between the property rates during and after wind farm development.