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Article
The Windy City: Property Value Impacts of Wind Turbines in an Urban Setting
Energy Economics
  • Corey Lang, University of Rhode Island
  • James J Opaluch, University of Rhode Island
Document Type
Article
Date of Original Version
1-1-2014
DOI
10.1016/j.eneco.2014.05.010
Abstract

This paper examines the impact of wind turbines on house values in Rhode Island. In contrast to wind farms surrounded by sparse development, in Rhode Island single turbines have been built in relatively high population dense areas. As a result, we observe 48,554 single-family, owner-occupied transactions within five miles of a turbine site, including 3,254 within one mile, which is far more than most related studies. We estimate hedonic difference-in-differences models that allow for impacts of wind turbines by proximity, viewshed, and contrast with surrounding development. Across a wide variety of specifications, the results suggest that wind turbines have no statistically significant negative impacts on house prices, in either the post public announcement phase or post construction phase. Further, the lower bound of statistically possible impacts is still outweighed by the positive externalities generated from CO2 mitigation.

Citation Information

This is a pre-print of an article published in Energy Economics. The definitive publisher-authenticated version is available online here.