The Impact of Wind Power Projects on Residential Property Values ...

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maintained from long distances, while some homes relatively near the turbines have no view <strong>of</strong> the turbines whatsoever. <strong>The</strong> area enjoys a substantial amount <strong>of</strong> second home ownership because <strong>of</strong> the bucolic scenic vistas, the high frequency <strong>of</strong> lakes and ponds, and the proximity to larger metropolitan areas such as Scranton, roughly 25 miles to the Southwest, and Wilkes-Barre a further 15 miles Southwest. Data Collection and Summary John Nolan, the County Chief Assessor, was very helpful in overseeing the extraction <strong>of</strong> the data from county records. GIS specialist Aeron Lankford provided the GIS parcel data as well as other mapping layers, and Bruce Grandjean, the IT and Data Specialist, provided the sales and home characteristic data as well as fielding countless questions as they arose. Additionally, real estate brokers Dotti Korpics <strong>of</strong> Bethany, Kent Swartz <strong>of</strong> Re Max, and Tom Cush <strong>of</strong> Choice #1 Country Real Estate were instrumental providing context for understanding the local market. <strong>The</strong> county provided data on 551 valid single-family transactions that occurred between 1996 and 2007, all <strong>of</strong> which were included in the sample. <strong>The</strong>se sales ranged in price from $20,000 to $444,500, with a mean <strong>of</strong> $111,522. Because <strong>of</strong> the relatively recent development <strong>of</strong> the wind facility, only 40% (n = 222) <strong>of</strong> the sales transaction occurred after the construction <strong>of</strong> the facility had commenced. Of those sales, 43 (19%) had views <strong>of</strong> the turbines, ten <strong>of</strong> which had more dramatic than MINOR views, and 11 were situated within one mile. Area Statistics Study Period Study Period Number <strong>of</strong> Median Mean Minimum Maximum Begin End Sales Price Price Price Price 7/12/1996 9/25/2006 551 $96,000 $111,522 $20,000 $444,500 Facility Statistics Facility Name Number <strong>of</strong> MW Number <strong>of</strong> Turbines Announce Date Construction Begin Date Completion Date Turbine Maker Hub Height (Meters) Waymart <strong>Wind</strong> Farm 64.5 43 Feb-01 Jun-03 Oct-03 GE <strong>Wind</strong> 65 Source: AWEA & Ventyx Inc. Variables <strong>of</strong> Interest Statistics Development Period Pre Announcement Post Announcement Pre Construction 1st Year After Construction 2nd Year After Construction 2+ Years After Construction Total Wayne, PA (PAWC) 223 106 64 71 87 551 View <strong>of</strong> Turbines Pre Construction None Minor Moderate Substantial Extreme Total Wayne, PA (PAWC) 329 179 33 8 2 0 551 Distance to Nearest Turbine Pre Construction < 0.57 Miles 0.57 - 1 Miles 1 - 3 Miles 3 - 5 Miles > 5 Miles Total Wayne, PA (PAWC) 329 1 10 95 55 61 551 106
Census Statistics Name Type 2007 Population % Change Since 2000 Population Per Mile^2 Median Age Median Income Median House 2007 % Change Since 2000 Waymart Town 3,075 116.0% 1,111 41.7 $ 43,797 $ 134,651 56% Forest City Town 1,743 -5.2% 1,929 45.6 $ 32,039 $ 98,937 67% Prompton Town 237 -1.6% 149 41.9 $ 30,322 $ 162,547 56% Wayne County 51,708 5.9% 71 40.8 $ 41,279 $ 163,060 57% Lackawanna County 209,330 -1.9% 456 40.3 $ 41,596 $ 134,400 48% Pennsylvania State 12,440,621 1.3% 277 38.0 $ 48,576 $ 155,000 60% US Country 301,139,947 6.8% 86 37.9 $ 50,233 $ 243,742 46% Source: City-Data.com & Wikipedia. “% Change Since 2000” refers to the percentage change between 2000 and 2007 for the figures in the column to the left (population or median house price). “Town” signifies any municipality with less than 10,000 inhabitants. 107
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LBNL-2829E ERNEST ORLANDO LAWRENCE
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LBNL-2829E The <st
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Table of Contents
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List of Tables Tab
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Acknowledgements The</stron
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This report builds on the previous
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Table ES-2: Impact
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Figure ES-3: Base Model Results: Sc
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In the Distance Stability Model, fo
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1. Introduction Wind</stron
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model 7 and uses various forms <str
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A particularly useful application <
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Using different statistical methods
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Table 1: Summary of</strong
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By using a variety of</stro
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minimum of 164 fee
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3.2.2. GIS Data GIS data on parcel
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In addition to the qualitative VIEW
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with the rest of t
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Figure 4: Frequency of</str
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4. Base Hedonic Model This section
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impose the least structure on the u
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of the home, home
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etween the reference study area (WA
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Figure 7: Results from the Base Mod
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5. Alternative Hedonic Models <stro
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concentrated inside of</str
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all other components are as defined
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the distance from them might not oc
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explanation is that the additional
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6) More than four years after const
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Table 19: Results from Temporal Asp
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Turning to the coefficient differen
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Table 21: Frequency Crosstab <stron
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5.6.1. Dataset and Model Form Data
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with the scenic vista. In other wor
Page 73 and 74: 6. Repeat Sales Analysis In general
Page 75 and 76: Table 27: List of
Page 77 and 78: adjustment, and represent another t
Page 79 and 80: that are located within one mile <s
Page 81 and 82: 7. Sales Volume Analysis Th
Page 83 and 84: Figure 11: Sales Volumes by PERIOD
Page 85 and 86: three years before announcement), a
Page 87 and 88: 8. Wind Pr
Page 89 and 90: Drawing from the previous literatur
Page 91 and 92: Taken together, the results from al
Page 93 and 94: 9. Conclusions Though surveys gener
Page 95 and 96: Davis, L. W. (2008) The</st
Page 97 and 98: LeSage, J. P. (1999) The</s
Page 99 and 100: Watson, M. (2005) Estimation <stron
Page 101 and 102: Figure A - 1: Map of</stron
Page 103 and 104: all very small communities with lit
Page 105 and 106: A.2 TXHC Study Area: Howard County
Page 107 and 108: Census Statistics Name Type 2007 Po
Page 109 and 110: Data Collection and Summary County
Page 111 and 112: A.4 IABV Study Area: Buena Vista Co
Page 113 and 114: Variables of Inter
Page 115 and 116: facilities than the towns o
Page 117 and 118: A.6 WIKCDC Study Area: Kewaunee and
Page 121 and 122: elatively high elevations o
Page 123: A.8 PAWC Study Area: Wayne County (
Page 127 and 128: ural landscapes, with the largest p
Page 129 and 130: A.10 NYMC Study Area: Madison Count
Page 133 and 134: account, combined with the determin
Page 135 and 136: Appendix C: Field Data Collection I
Page 137 and 138: Figure A - 14: Field Data Collectio
Page 139 and 140: ABOVE AVERAGE VISTA PREMIUM VISTA 1
Page 141 and 142: EXTREME VIEW 6 turbines visible fro
Page 143 and 144: 5 is a vector of d
Page 145 and 146: values, that effect seems likely to
Page 147 and 148: unrestricted Home and Site Characte
Page 149 and 150: with coefficients above zero and th
Page 151 and 152: Figure A - 15: Histogram of
Page 153 and 154: The M Distance his
Page 155 and 156: sold within the preceding six month
Page 157 and 158: Appendix H: Alternative Models: Ful
Page 159 and 160: Table A - 8: Full Results for the C
Page 161 and 162: Table A - 10: Full Results for the
Page 163 and 164: Table A - 11: Full Results for the
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The Impact of Wind Power Projects on Residential Property Values ...

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