Ball State study finds renewable energy projects do not impact Indiana home prices

A 20-year study conducted by Ball State University’s Center for Business and Economic Research (CBER) found no statistically significant negative impact on residential property values near large-scale renewable energy projects in Indiana.

Researchers analyzed more than 230,000 home sales occurring between 2004 and 2024. The study examined homes within four miles of solar projects and within five miles of wind projects. While some specific models showed minor variations, such as one model in East Central Indiana suggesting a potential 11.5% difference in price, the researchers concluded these findings were not statistically significant and could not be distinguished from normal market fluctuations.

The analysis included wind projects with capacities of at least 600 kW and solar projects of at least 1 MW, including the 200 MW Riverstart Solar Park. Dr. Dagney Faulk, director of research at CBER, stated the data is intended to provide local officials and residents with empirical information to inform zoning and planning discussions regarding renewable energy developments.