The windy city: Property value impacts of wind turbines in an urban setting
Corey Lang,
James Opaluch and
George Sfinarolakis
Energy Economics, 2014, vol. 44, issue C, 413-421
Abstract:
This paper examines the impact of wind turbines on house values in Rhode Island. In contrast to wind farms surrounded by sparse development, in Rhode Island single turbines have been built in relatively high population dense areas. As a result, we observe 48,554 single-family, owner-occupied transactions within five miles of a turbine site, including 3254 within one mile, which is far more than most related studies. We estimate hedonic difference-in-differences models that allow for impacts of wind turbines by proximity, viewshed, and contrast with surrounding development. Across a wide variety of specifications, the results suggest that wind turbines have no statistically significant negative impacts on house prices, in either the post public announcement phase or post construction phase. Further, the lower bound of statistically possible impacts is still outweighed by the positive externalities generated from CO2 mitigation.
Keywords: Wind energy; Hedonic valuation; Viewshed; Rhode Island (search for similar items in EconPapers)
JEL-codes: Q42 Q51 R31 (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations: View citations in EconPapers (58)
Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0140988314001182
Full text for ScienceDirect subscribers only
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:44:y:2014:i:c:p:413-421
DOI: 10.1016/j.eneco.2014.05.010
Access Statistics for this article
Energy Economics is currently edited by R. S. J. Tol, Beng Ang, Lance Bachmeier, Perry Sadorsky, Ugur Soytas and J. P. Weyant
More articles in Energy Economics from Elsevier
Bibliographic data for series maintained by Catherine Liu (repec@elsevier.com).