Will a solar project increase the value of my property?
While a solar project won’t have a measurable impact on the neighboring properties to solar farms, it will benefit them economically. These projects can bring economic leverage without demanding anything from the community in return.
A 2021 study was conducted by a firm based in Chicago, CohnReznick, whose expertise lies in property valuation. The study analyzed six solar farms in four different states and how they affect home sales of nearby properties. It concluded that the solar farms did not significantly impact the sales of the properties.
However, solar projects can draw in tax revenues in millions of dollars that can enhance the essential services in a community, including roads, facilities, and schools. In effect, the project provided economic boost and job opportunities despite not having a significant increase in terms of property sales.