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

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Disclaimer This document was prepared as an account <strong>of</strong> work sponsored by the United States Government. While this document is believed to contain correct information, neither the United States Government nor any agency there<strong>of</strong>, nor <strong>The</strong> Regents <strong>of</strong> the University <strong>of</strong> California, nor any <strong>of</strong> their employees, makes any warranty, express or implied, or assumes any legal responsibility for the accuracy, completeness, or usefulness <strong>of</strong> any information, apparatus, product, or process disclosed, or represents that its use would not infringe privately owned rights. Reference herein to any specific commercial product, process, or service by its trade name, trademark, manufacturer, or otherwise, does not necessarily constitute or imply its endorsement, recommendation, or favoring by the United States Government or any agency there<strong>of</strong>, or <strong>The</strong> Regents <strong>of</strong> the University <strong>of</strong> California. <strong>The</strong> views and opinions <strong>of</strong> authors expressed herein do not necessarily state or reflect those <strong>of</strong> the United States Government or any agency there<strong>of</strong>, or <strong>The</strong> Regents <strong>of</strong> the University <strong>of</strong> California. Ernest Orlando Lawrence Berkeley National Laboratory is an equal opportunity employer. i
LBNL-2829E <strong>The</strong> <strong>Impact</strong> <strong>of</strong> <strong>Wind</strong> <strong>Power</strong> <strong>Projects</strong> on Residential Property Values in the United States: A Multi-Site Hedonic Analysis Prepared for the Office <strong>of</strong> Energy Efficiency and Renewable Energy <strong>Wind</strong> & Hydropower Technologies Program U.S. Department <strong>of</strong> Energy Washington, D.C. Principal Authors: Ben Hoen, Ryan Wiser, Peter Cappers Ernest Orlando Lawrence Berkeley National Laboratory Mark Thayer San Diego State University Gautam Sethi Bard College 1 Cyclotron Road, MS 90R4000 Berkeley CA 94720-8136 December 2009 <strong>The</strong> work described in this report was funded by the Office <strong>of</strong> Energy Efficiency and Renewable Energy (<strong>Wind</strong> & Hydropower Technologies Program) <strong>of</strong> the U.S. Department <strong>of</strong> Energy under Contract No. DE-AC02-05CH1123. ii
Page 1: LBNL-2829E ERNEST ORLANDO LAWRENCE
Page 5 and 6: Table of Contents
Page 7 and 8: List of Tables Tab
Page 9 and 10: Acknowledgements The</stron
Page 11 and 12: This report builds on the previous
Page 13 and 14: Table ES-2: Impact
Page 15 and 16: Figure ES-3: Base Model Results: Sc
Page 17 and 18: In the Distance Stability Model, fo
Page 19 and 20: 1. Introduction Wind</stron
Page 21 and 22: model 7 and uses various forms <str
Page 23 and 24: A particularly useful application <
Page 25 and 26: Using different statistical methods
Page 27 and 28: Table 1: Summary of</strong
Page 29 and 30: By using a variety of</stro
Page 31 and 32: minimum of 164 fee
Page 33 and 34: 3.2.2. GIS Data GIS data on parcel
Page 35 and 36: In addition to the qualitative VIEW
Page 37 and 38: with the rest of t
Page 39 and 40: Figure 4: Frequency of</str
Page 41 and 42: 4. Base Hedonic Model This section
Page 43 and 44: impose the least structure on the u
Page 45 and 46: of the home, home
Page 47 and 48: etween the reference study area (WA
Page 49 and 50: Figure 7: Results from the Base Mod
Page 51 and 52: 5. Alternative Hedonic Models <stro
Page 53 and 54:
concentrated inside of</str
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all other components are as defined
Page 57 and 58:
the distance from them might not oc
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explanation is that the additional
Page 61 and 62:
6) More than four years after const
Page 63 and 64:
Table 19: Results from Temporal Asp
Page 65 and 66:
Turning to the coefficient differen
Page 67 and 68:
Table 21: Frequency Crosstab <stron
Page 69 and 70:
5.6.1. Dataset and Model Form Data
Page 71 and 72:
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
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Watson, M. (2005) Estimation <stron
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Figure A - 1: Map of</stron
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all very small communities with lit
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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 119 and 120:
Variables of Inter
Page 121 and 122:
elatively high elevations o
Page 123 and 124:
A.8 PAWC Study Area: Wayne County (
Page 125 and 126:
Census Statistics Name Type 2007 Po
Page 127 and 128:
ural landscapes, with the largest p
Page 129 and 130:
A.10 NYMC Study Area: Madison Count
Page 131 and 132:
Variables of Inter
Page 133 and 134:
account, combined with the determin
Page 135 and 136:
Appendix C: Field Data Collection I
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Figure A - 14: Field Data Collectio
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ABOVE AVERAGE VISTA PREMIUM VISTA 1
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EXTREME VIEW 6 turbines visible fro
Page 143 and 144:
5 is a vector of d
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values, that effect seems likely to
Page 147 and 148:
unrestricted Home and Site Characte
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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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