The value of a wind farm free view
Well established theories suggest that we can interpret price differentials in real estate properties emerging between places where wind farms are visible and comparable places where they are not, as household marginal willingness to pay to avoid the unpleasantness associated with wind farm visibility.
The 2015 research “Gone with the wind: valuing the visual impacts of wind turbines through house prices” concludes that an average English household would be willing to pay around € 1.100 per year to avoid a large wind farm visible at 2 km distance and around € 140,00 per year to avoid having a large wind farm visible in the 8-14km range.
For the researched areas, in England and Wales, the implied amounts required per wind farm to compensate households for their loss of visual amenities is large: about € 15,5 million on average to compensate households within 4km.
Click on the image below the read the whole research (Gone with the wind – valuing the local impacts of wind turbines through house prices – By Stephen Gibbons 2015).