Values in the Wind: A Hedonic Analysis of Wind Power Facilities
AbstractThe siting of wind facilities is extremely controversial. This paper uses data on 11,331 property transactions over nine years in northern New York State to explore the effects of new wind facilities on property values. We use a fixed-effects framework to control for omitted variables and endogeneity biases. We find that nearby wind facilities significantly reduce property values in two of the three counties studied. These results indicate that existing compensation to local homeowners/communities may not be sufficient to prevent a loss of property values.
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Bibliographic InfoArticle provided by University of Wisconsin Press in its journal Land Economics.
Volume (Year): 88 (2012)
Issue (Month): 3 ()
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Web page: http://le.uwpress.org/
Find related papers by JEL classification:
- Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
- Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
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- 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, University of Copenhagen, Department of Food and Resource Economics 2013/13, University of Copenhagen, Department of Food and Resource Economics.
- 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, Elsevier, vol. 61(C), pages 931-943.
- Cherry, Todd L. & García, Jorge H. & Kallbekken, Steffen & Torvanger, Asbjørn, 2014. "The development and deployment of low-carbon energy technologies: The role of economic interests and cultural worldviews on public support," Energy Policy, Elsevier, Elsevier, vol. 68(C), pages 562-566.
- Kathrine Lausted Veie & Toke Emil Panduro, 2013. "An alternative to the standard spatial econometric approaches in hedonic house price models," IFRO Working Paper, University of Copenhagen, Department of Food and Resource Economics 2013/18, University of Copenhagen, Department of Food and Resource Economics.
- Lucija Muehlenbachs & Elisheba Spiller & Christopher Timmins, 2012. "Shale Gas Development and Property Values: Differences across Drinking Water Sources," NBER Working Papers 18390, National Bureau of Economic Research, Inc.
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