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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

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: March 22, 2015

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: https://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
Feedback to SSRN

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References:  27
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