Wind Turbines, Shadow Flicker, and Real Estate Values

Carsten Andersen () and Timo Hener ()
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Carsten Andersen: Aarhus University
Timo Hener: Aarhus University

Environmental & Resource Economics, 2025, vol. 88, issue 3, No 7, 759 pages

Abstract: 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.

Keywords: Wind turbines; House prices; Shadow flicker (search for similar items in EconPapers)
JEL-codes: Q42 Q51 R30 (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/s10640-024-00947-x

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