Full Title: Commercial Wind Turbines and Residential Home Values: New Evidence From the Universe of Land-Based Wind Projects in the United States
Author(s): Eric J. Brunner, Ben Hoen, Joe Rand, and David Schwegman
Publisher(s): Elsevier
Publication Date: December 7, 2023
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Description (excerpt):
The study examines the impact of proximity to land-based commercial wind turbines on residential home values in the United States using data on the universe of commercial wind turbines and residential property transactions from 2005 to 2020. Using event study and difference-in-differences identification strategies they find that, on average, homes located within 1 mile of a commercial wind turbine experience approximately an 11% decline in value following the announcement of a new commercial wind energy project, relative to counterfactual homes located 3 to 5 miles away. The results are primarily driven by wind projects located in urban counties with populations greater than 250,000.