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Gone with the wind: valuing the visual impacts of wind turbines through house prices

Gibbons, Stephen (2014) Gone with the wind: valuing the visual impacts of wind turbines through house prices. SERC Discussion Papers, SERCDP0159. Spatial Economics Research Centre (SERC), London School of Economics and Political Science, London, UK.

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Identification Number: SERCDP0159

Abstract

This study provides quantitative evidence on the local benefits and costs of wind farm developments in England and Wales, focussing on their visual environmental impacts. In the tradition of studies in environmental, public and urban economics, housing costs are used to reveal local preferences for views of wind farm developments. Estimation is based on quasi-experimental research designs that compare price changes occurring in places where wind farms become visible, with price changes in appropriate comparator groups. These comparator groups include places close to wind farms that became visible in the past, or where they will become operational in the future and places close to wind farms sites but where the turbines are hidden by the terrain. All these comparisons suggest that wind farm visibility reduces local house prices, and the implied visual environmental costs are substantial.

Item Type: Monograph (Discussion Paper)
Official URL: http://www.spatialeconomics.ac.uk/SERC/publication...
Additional Information: © 2014 The Author
Subjects: G Geography. Anthropology. Recreation > G Geography (General)
G Geography. Anthropology. Recreation > GE Environmental Sciences
Sets: Departments > Geography and Environment
Research centres and groups > Spatial Economics Research Centre
Date Deposited: 29 Jul 2014 12:28
Last Modified: 29 Jul 2014 12:29
Funders: Economic and Social Research Council, Department for Business, Innovation & Skills (BIS), Welsh Assembly Government
URI: http://eprints.lse.ac.uk/id/eprint/58422

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