Abstract

http://ssrn.com/abstract=1803601
 
 

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


Martin D. Heintzelman


Clarkson University School of Business

Carrie Tuttle


Clarkson University

July 15, 2011

Land Economics, Forthcoming

Abstract:     
The siting of wind facilities is extremely controversial. This paper uses data on 11,369 property transactions over 9 years in Northern New York to explore the effects of new wind facilities on property values. We use a repeat-sales framework to control for omitted variables and endogeneity biases. We find that nearby wind facilities significantly reduce property values. Decreasing the distance to the nearest turbine to 1 mile results in a decline in price of between 7.73% and 14.87%. These results indicate that there remains a need to compensate local homeowners/communities for allowing wind development within their borders.

Number of Pages in PDF File: 41

Keywords: Wind Power, Renewable Energy, Hedonic Analysis

JEL Classification: Q2, Q42

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Date posted: April 6, 2011 ; Last revised: July 18, 2011

Suggested Citation

Heintzelman, Martin D. and Tuttle, Carrie, Values in the Wind: A Hedonic Analysis of Wind Power Facilities (July 15, 2011). Land Economics, Forthcoming . Available at SSRN: http://ssrn.com/abstract=1803601

Contact Information

Martin D. Heintzelman (Contact Author)
Clarkson University School of Business ( email )
Potsdam, NY 13699-5780
United States
Carrie Tuttle
Clarkson University ( email )
United States
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