Impact of Utility-Scale Solar Farms on Property Values in North Carolina

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2022-04-14

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Abstract

The aim of this paper is to investigate impacts of utility-scale solar farms on surrounding property values. Using data from CoreLogic, the Energy Information Administration (EIA), and the US Census Bureau, this study identifies a 12% statistically significant increase in sale values associated with high-income residential homes within three miles of a solar farm. However, low-income homes built near solar farms are associated with a -1.4% decrease in sale values.

As North Carolina continues to expand solar energy, specifically through photovoltaic utilities, understanding the impact of solar development on surrounding communities should be a priority and policies should aim to prevent property devaluations in low-income neighborhoods caused by solar farms.

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Wang, Megan (2022). Impact of Utility-Scale Solar Farms on Property Values in North Carolina. Honors thesis, Duke University. Retrieved from https://hdl.handle.net/10161/25560.


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