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Values in the Wind: A Hedonic Analysis of Wind Power Facilities

Values in the Wind: A Hedonic Analysis of Wind Power Facilities Abstract: The siting of wind facilities is extremely controversial. This paper uses data on 11,331 property transactions over nine years in northern New York State to explore the effects of new wind facilities on property values. We use a fixed-effects framework to control for omitted variables and endogeneity biases. We find that nearby wind facilities significantly reduce property values in two of the three counties studied. These results indicate that existing compensation to local homeowners/communities may not be sufficient to prevent a loss of property values. (JEL Q51, Q53) http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Land Economics University of Wisconsin Press

Values in the Wind: A Hedonic Analysis of Wind Power Facilities

Land Economics , Volume 88 (3) – Jul 10, 2012

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Publisher
University of Wisconsin Press
Copyright
Copyright by the Board of Regents of the University of Wisconsin System.
ISSN
1543-8325
Publisher site
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Abstract

Abstract: The siting of wind facilities is extremely controversial. This paper uses data on 11,331 property transactions over nine years in northern New York State to explore the effects of new wind facilities on property values. We use a fixed-effects framework to control for omitted variables and endogeneity biases. We find that nearby wind facilities significantly reduce property values in two of the three counties studied. These results indicate that existing compensation to local homeowners/communities may not be sufficient to prevent a loss of property values. (JEL Q51, Q53)

Journal

Land EconomicsUniversity of Wisconsin Press

Published: Jul 10, 2012

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