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Wind Energy Facilities and Residential Properties: The Effect of Proximity and View on Sales Prices

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Author Info

  • Ben Hoen

    ()
    (Ernest Orlando Lawrence Berkeley National Laboratory)

  • Ryan Wiser

    ()
    (Ernest Orlando Lawrence Berkeley National Laboratory)

  • Peter Cappers

    ()
    (Ernest Orlando Lawrence Berkeley National Laboratory)

  • Mark Thayer

    ()
    (San Diego State University)

  • Gautam Sethi

    ()
    (Bard Center for Environmental Policy at Bard College)

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    Abstract

    With increasing numbers of communities considering wind power developments, empirical investigations regarding related community concerns are needed. One such concern is that proximate property values may be adversely affected, yet relatively little research exists on the subject. The present research investigates roughly 7,500 sales of single-family homes surrounding 24 existing U.S. wind facilities. Across four different hedonic models, and a variety of robustness tests, the results are consistent: neither the view of the wind facilities nor the distance of the home to those facilities is found to have a statistically significant effect on sales prices, yet further research is warranted.

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    File URL: http://aux.zicklin.baruch.cuny.edu/jrer/papers/pdf/new_current/vol33n03/01.279_316.pdf
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    Bibliographic Info

    Article provided by American Real Estate Society in its journal journal of Real Estate Research.

    Volume (Year): 33 (2011)
    Issue (Month): 3 ()
    Pages: 279-316

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    Handle: RePEc:jre:issued:v:33:n:3:2011:p:279-316

    Contact details of provider:
    Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
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    Web page: http://www.aresnet.org/

    Order Information:
    Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
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    Web: http://aux.zicklin.baruch.cuny.edu/jrer/about/get.htm

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    Cited by:
    1. Cathrine Ulla Jensen & Toke Emil Panduro & Thomas Hedemark Lundhede, 2013. "The Vindication of Don Quijote: The impact of noise and visual pollution from wind turbines on local residents in Denmark," IFRO Working Paper 2013/13, University of Copenhagen, Department of Food and Resource Economics.
    2. Mulvaney, Kate K. & Woodson, Patrick & Prokopy, Linda Stalker, 2013. "A tale of three counties: Understanding wind development in the rural Midwestern United States," Energy Policy, Elsevier, vol. 56(C), pages 322-330.
    3. Baxter, Jamie & Morzaria, Rakhee & Hirsch, Rachel, 2013. "A case-control study of support/opposition to wind turbines: Perceptions of health risk, economic benefits, and community conflict," Energy Policy, Elsevier, vol. 61(C), pages 931-943.
    4. Bidwell, David, 2013. "The role of values in public beliefs and attitudes towards commercial wind energy," Energy Policy, Elsevier, vol. 58(C), pages 189-199.

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