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Windfarms and house prices

Gibbons, Stephen (2013) Windfarms and house prices. Spatial Economics Research Centre Blog (06 Jun 2013). Blog.

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Abstract

[by Dr Steve Gibbons] News this morning suggests that communities near new wind-farm developments could be in for some form of compensation, through lower electricity prices or other payment schemes. The BBC reports that the compensation could be worth as much as £100,000 per community http://www.bbc.co.uk/news/business-22791815. This is probably welcome news for residents potentially affected by wind-farm developments, although provisional findings from on-going research suggests that this level of compensation may not cover the costs involved, in terms of environmental, health and other impacts. I find that an operational wind farm reduces housing prices by around 7% up to 5km from the wind farm site. Some rough calculations based on these estimates suggest that the implied social costs on the local community (within 5km) amounts to about £80 million per operational wind farm, or about £500 per household per year.

Item Type: Website (Blog)
Official URL: http://spatial-economics.blogspot.co.uk/
Additional Information: © 2013 The Author(s)
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HD Industries. Land use. Labor
J Political Science > JC Political theory
J Political Science > JN Political institutions (Europe) > JN101 Great Britain
J Political Science > JS Local government Municipal government
T Technology > TA Engineering (General). Civil engineering (General)
Sets: Departments > Geography and Environment
Research centres and groups > Spatial Economics Research Centre
Research centres and groups > Centre for Economic Performance (CEP)
Collections > LSE Spatial Economics Research Centre Blog
Date Deposited: 28 Jun 2017 13:29
Last Modified: 28 Jun 2017 13:46
URI: http://eprints.lse.ac.uk/id/eprint/82627

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