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

Gibbons, Stephen ORCID: 0000-0002-2871-8562 (2015) Gone with the wind: valuing the visual impacts of wind turbines through house prices. Journal of Environmental Economics and Management, 72. pp. 177-196. ISSN 0095-0696

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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 sales prices 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 comparison groups. These 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:	Article
Official URL:	http://www.sciencedirect.com/science/journal/00950...
Additional Information:	© 2015 Elsevier Inc.
Divisions:	Geography & Environment Spatial Economics Research Centre Centre for Economic Performance
Subjects:	G Geography. Anthropology. Recreation > GE Environmental Sciences H Social Sciences > HC Economic History and Conditions
JEL classification:	Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics > Q4 - Energy Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics > Q5 - Environmental Economics > Q51 - Valuation of Environmental Effects R - Urban, Rural, and Regional Economics > R3 - Production Analysis and Firm Location
Date Deposited:	31 Jul 2015 13:06
Last Modified:	14 Nov 2024 07:36
Projects:	ES/J021342/1
Funders:	Economic and Social Research Council, UK Government Department of Business Innovation and Skills, Welsh Advisory Government
URI:	http://eprints.lse.ac.uk/id/eprint/62880

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