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Valuing a wind farm construction: A contingent valuation study in Greece

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  • Koundouri, Phoebe
  • Kountouris, Yiannis
  • Remoundou, Kyriaki

Abstract

Our analysis is based on data from a double-bounded dichotomous choice contingent valuation study implemented to elicit public attitudes towards renewable energy generation and their willingness to pay for the construction of a wind farm in the area of Messanagros in the island of Rhodes, Greece. Results indicate that there are significant positive values deriving from the proposed project. Respondents report a mean willingness to pay a premium in their bi-monthly electric bills of [euro]8.86 for the sole purpose of the construction of the wind farm. The estimated economic benefits to the local population are weighed against the investment cost in a cost-benefit analysis to inform policy making and implications for EU energy policy are provided.

Suggested Citation

  • Koundouri, Phoebe & Kountouris, Yiannis & Remoundou, Kyriaki, 2009. "Valuing a wind farm construction: A contingent valuation study in Greece," Energy Policy, Elsevier, vol. 37(5), pages 1939-1944, May.
    • Handle: RePEc:eee:enepol:v:37:y:2009:i:5:p:1939-1944
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    References listed on IDEAS

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