Wind Energy Facilities and Residential Properties: The Effect of Proximity and View on Sales Prices

Ben Hoen (), Ryan Wiser (), Peter Cappers (), Mark Thayer () and Gautam Sethi ()
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Ben Hoen: Ernest Orlando Lawrence Berkeley National Laboratory
Ryan Wiser: Ernest Orlando Lawrence Berkeley National Laboratory
Peter Cappers: Ernest Orlando Lawrence Berkeley National Laboratory
Mark Thayer: San Diego State University
Gautam Sethi: Bard Center for Environmental Policy at Bard College

Journal of Real Estate Research, 2011, vol. 33, issue 3, 279-316

Abstract: With increasing numbers of communities considering wind power developments, empirical investigations regarding related community concerns are needed. One such concern is that proximate property values may be adversely affected, yet relatively little research exists on the subject. The present research investigates roughly 7,500 sales of single-family homes surrounding 24 existing U.S. wind facilities. Across four different hedonic models, and a variety of robustness tests, the results are consistent: neither the view of the wind facilities nor the distance of the home to those facilities is found to have a statistically significant effect on sales prices, yet further research is warranted.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (46)

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