Impact of biogas plants on rural residential property values and implications for local acceptance
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Impact of biogas plants on rural residential property values and implications for local acceptance. / Zemo, Kahsay Haile; Panduro, Toke Emil; Termansen, Mette.
I: Energy Policy, Bind 129, 2019, s. 1121-1131.Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt
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TY - JOUR
T1 - Impact of biogas plants on rural residential property values and implications for local acceptance
AU - Zemo, Kahsay Haile
AU - Panduro, Toke Emil
AU - Termansen, Mette
PY - 2019
Y1 - 2019
N2 - In this paper, we investigate the impact of large- and farm-scale biogas plants on the rural residential property values. We use data from 11,279 rural housing transactions in the period 2007–2015 and trace spatial effects of biogas plants on the local property market. Our results show that large biogas plants have a significant negative impact on rural residential property values while farm-scale biogas plants have a significant positive impact. The findings suggest that preferences for or against biogas plants cannot be explained by either a NIMBY or a PIMBY phenomenon and the paper explores potential reasons for the observed disparity in valuation of farm- and large-scale biogas plants. An economic impact assessment of the choice of facility type, based on a concrete case study, indicates that the impact on residential property values may tip the scale in favor of farm-scale biogas plants. Based on these results, policy implications for planning and expansion of biogas production are discussed.
AB - In this paper, we investigate the impact of large- and farm-scale biogas plants on the rural residential property values. We use data from 11,279 rural housing transactions in the period 2007–2015 and trace spatial effects of biogas plants on the local property market. Our results show that large biogas plants have a significant negative impact on rural residential property values while farm-scale biogas plants have a significant positive impact. The findings suggest that preferences for or against biogas plants cannot be explained by either a NIMBY or a PIMBY phenomenon and the paper explores potential reasons for the observed disparity in valuation of farm- and large-scale biogas plants. An economic impact assessment of the choice of facility type, based on a concrete case study, indicates that the impact on residential property values may tip the scale in favor of farm-scale biogas plants. Based on these results, policy implications for planning and expansion of biogas production are discussed.
KW - Biogas
KW - Capitalization effect
KW - Hedonic pricing method
KW - Local acceptance
KW - Spatial generalized additive model
U2 - 10.1016/j.enpol.2019.03.008
DO - 10.1016/j.enpol.2019.03.008
M3 - Journal article
AN - SCOPUS:85063062534
VL - 129
SP - 1121
EP - 1131
JO - Energy Policy
JF - Energy Policy
SN - 0301-4215
ER -
ID: 216309298