Evaluate the Impacts of Wind Farm Facilities on Land Values with Geographically-Linked Microdata in China

Yingdan Mei (), Pengfei Liu, Lina Meng () and Lu Lin ()
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Yingdan Mei: Renmin University of China
Lina Meng: Xiamen University
Lu Lin: China University of Petroleum Beijing

Environmental & Resource Economics, 2024, vol. 87, issue 2, No 6, 465-489

Abstract: Abstract This study explores the impact of wind facilities on land values based on wind farm construction and land transaction datasets in China from 2005 to 2017. We implement a two-way fixed effects model to estimate the causal effects of the siting of wind farms on land prices. Our results show that the siting of wind farms significantly impacts land transaction prices. On average, land parcels located within 10 km of a wind farm enjoy a 4.78% price premium. However, land parcels located within 1 to 3 km of a wind farm experience depreciation, while lands located within 3 to 6 km of a wind turbine experience an increase on average. We further find that offshore wind farms are viewed more favorably by nearby residents compared to inland wind farms.

Keywords: Wind farms; Land values; Renewable energy; Difference-in-differences (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s10640-023-00790-6

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