The Amenity Costs of Offshore Wind Farms: Evidence from a Choice Experiment
|Title:||The Amenity Costs of Offshore Wind Farms: Evidence from a Choice Experiment|
|Published In:||Energy Economics|
We conduct a choice-experiment with individuals that recently rented a vacation property along the North Carolina coastline to assess the impacts of a utility-scale wind farm on their rental decisions. Visualizations were presented to survey respondents that varied both the number of turbines and their proximity to shore. Results indicate that there is not a scenario for which respondents would be willing to pay more to rent a home with turbines in view, as compared to the baseline view with no turbines in sight. Further, there is a substantial portion of the survey population that would change their vacation destination if wind farms were placed within visual range of the beach. The rental discounts required to attract the segment of the survey population most amenable to viewing wind farms still indicate that rental value losses of up to 10% are possible if a utility-scale wind farm is placed within 8 miles of shore.
|Ivan Allen College Contributors:|
|External Contributors:||Lutzeyer S., Phaneuf D.|
Lutzeyer, Sanja & Phaneuf, Daniel J. & Taylor, Laura O., 2018. “The Amenity Costs of Offshore Wind Farms: Evidence from a Choice Experiment” Energy Economics, 72: 621-639, 2018.