Values in the Wind: A Hedonic Analysis of Wind Power Facilities
Author: | New York, Property values
Translate: FROM English | TO English
Translate: FROM English | TO English
ABSTRACT: The siting of wind facilities is extremely controversial. This paper uses data on 11,369 property transactions over 9 years in Northern New York to explore the effects of new wind facilities on property values. We use a repeat-sales framework to control for omitted variables and endogeneity biases. We find that nearby wind facilities significantly reduce property values. Decreasing the distance to the nearest turbine to 1 mile results in a decline in price of between 7.73% and 14.87%. These results indicate that there re- mains a need to compensate local homeowners/communities for allowing wind development within their borders.
Download original document: “Values in the Wind”
This material is the work of the author(s) indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.
The copyright of this material resides with the author(s). As part of its noncommercial effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Queries e-mail.
| Wind Watch relies entirely on User Funding |
 |
 |
Share:
[ Short URLs: https://wind-watch.org/doc/?p=2429 | http://wndfo.net/D2429 ]
Tags: Wind power, Wind energy
