Abstract

The siting of wind facilities is extremely controversial. This paper uses data on 11,331 property transactions over nine years in northern New York State to explore the effects of new wind facilities on property values. We use a fixed-effects framework to control for omitted variables and endogeneity biases. We find that nearby wind facilities significantly reduce property values in two of the three counties studied. These results indicate that existing compensation to local homeowners/communities may not be sufficient to prevent a loss of property values. (JEL Q51, Q53)

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Additional Information

ISSN
1543-8325
Print ISSN
0023-7639
Pages
pp. 571-588
Launched on MUSE
2012-07-10
Open Access
No
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