June 22, 2011
New York, Property values

Values in the Wind: A Hedonic Analysis of Wind Power Facilities

Heintzelman, Martin; and Tuttle, Carrie

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 [1]

URL to article:  https://www.wind-watch.org/documents/values-in-the-wind-a-hedonic-analysis-of-wind-power-facilities/

URLs in this post:

[1] Values in the Wind: https://docs.wind-watch.org/Values-in-the-Wind.pdf