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Gone with the wind

Author

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  • Steve Gibbons

Abstract

Wind farms reduce house prices in postcodes where the turbines are visible, according to research by Steve Gibbons. Households are willing to pay £1,000 a year to avoid a large wind farm visible within 2km. His study notes that wind turbines are generally popular as a source of green energy but they face considerable opposition from the people who have to live near them. He uses local property markets as a way to value the visual impact of 'wind farms' and finds significant negative effects on house prices in postcodes where the turbines are visible.

Suggested Citation

  • Steve Gibbons, 2014. "Gone with the wind," CentrePiece - The magazine for economic performance 433, Centre for Economic Performance, LSE.
    • Handle: RePEc:cep:cepcnp:433
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    File URL: https://cep.lse.ac.uk/pubs/download/cp433.pdf
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    Citations

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    Cited by:

    1. Wenche Tobiasson & Tooraj Jamasb, 2014. "Sustainable Electricity Grid Development and the Public: An Economic Approach," Cambridge Working Papers in Economics 1432, Faculty of Economics, University of Cambridge.
    2. Gabriel M. Ahlfeldt & Nancy Holman, 2018. "Distinctively Different: A New Approach to Valuing Architectural Amenities," Economic Journal, Royal Economic Society, vol. 128(608), pages 1-33, February.
    3. Dröes, Martijn I. & Koster, Hans R.A., 2016. "Renewable energy and negative externalities: The effect of wind turbines on house prices," Journal of Urban Economics, Elsevier, vol. 96(C), pages 121-141.
    4. Ted Pinchbeck, 2014. "Walk This Way: Estimating Impacts of Walk in Centres at Hospital Emergency Departments in the English National Health Service," SERC Discussion Papers 0167, Centre for Economic Performance, LSE.
    5. Zerrahn, Alexander & Krekel, Christian, 2015. "Sowing the Wind and Reaping the Whirlwind? The Effect of Wind Turbines on Residential Well-Being," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 112956, Verein für Socialpolitik / German Economic Association.
    6. Lauren Knapp & Jacob Ladenburg, 2015. "How Spatial Relationships Influence Economic Preferences for Wind Power—A Review," Energies, MDPI, vol. 8(6), pages 1-25, June.
    7. Renaud Coulomb & Yanos Zylberberg, 2016. "Rare Events and Risk Perception: Evidence from Fukushima Accident," Department of Economics - Working Papers Series 2020, The University of Melbourne.
    8. Bonar, Paul A.J. & Bryden, Ian G. & Borthwick, Alistair G.L., 2015. "Social and ecological impacts of marine energy development," Renewable and Sustainable Energy Reviews, Elsevier, vol. 47(C), pages 486-495.

    More about this item

    Keywords

    Housing prices; environment; wind farms; infrastructure;
    All these keywords.

    JEL classification:

    • R - Urban, Rural, Regional, Real Estate, and Transportation Economics
    • Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics

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    This paper has been announced in the following NEP Reports:

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