Rent rates for coastal properties in NC drop with wind turbine views: economic study

“…not a scenario for which respondents would be willing to pay more to rent a home with turbines in view …”

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New York State University

Centre for Environmental and Resource Economic Policy

The Amenity Costs of Offshore Wind Farms: evidence from a choice experiment


Abstract:

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 five percent or more are possible if a utility-scale wind farm is placed within eight miles of shore.

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Comments

Sommer
Reply

I feel so badly for the landowners along Lake Huron who have had absolutely no say in the siting of turbines. The Huron shoreline and right on up to Tobermory and now even Manitoulin Island have been impacted. This was such a mistake!
It must be made right again!

Bert
Reply

And this is even with a 8 mile setback ! Over 23 times further away than the minimum setback in Ontario.

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