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Wind Turbines, Shadow Flicker, and Real Estate Values
Author: | Denmark, Property values
Abstract: We analyze the impact of wind turbines on house prices, distinguishing between effects of proximity and shadow flicker from rotor blades covering the sun. By utilizing data from 2.4 million house transactions and 6,878 wind turbines in Denmark, we can control for house fixed effects in our estimation. Our results suggest strong negative impacts on house prices, with reductions of up to 12 percent for modern giant turbines. Homes affected by shadow flicker experience an additional decrease in value of 8.1 percent. Our findings suggest a nuanced perspective on the local externalities of wind turbines regarding size and relative location.
Carsten Andersen & Timo Hener
Department of Economics and Business Economics, Aarhus University, Denmark;
Center for Research in Energy: Economics and Markets (CoRE), Aarhus, Denmark;
CESifo Research Network Affiliate, Munich, Germany
Environmental and Resource Economics (11 February 2025), Volume 88, pages 731–759
doi: 10.1007/s10640-024-00947-x
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The copyright of this material resides with the author(s). As part of its noncommercial educational 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.
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Tags: Wind power, Wind energy
