2.7 million data evaluated: wind turbines value of homes shrink

In the case of technologies for electricity production is often operated in Black-and-White - or, better said, a Black-and-Green-painting. As conventional techn

2.7 million data evaluated: wind turbines value of homes shrink

In the case of technologies for electricity production is often operated in Black-and-White - or, better said, a Black-and-Green-painting. As conventional technologies, especially nuclear and coal power plants, as of the day before yesterday, and harmful to humans and the environment. This is also why the end of nuclear power in Germany is already decided since a Long time, and to the year 2022 to be fixed. Also the days of the coal-fired power plants seem to be with the recommendation of the "coal Commission", the Coal phase-out in Germany by the year 2038, and counted.

on the Other hand, so-called renewable technologies, especially photovoltaics and wind turbines, primarily as a seemingly flawless seen and enjoy a lot of sympathy for the majority of the population. The Person

Manuel Frondel a Professor for energy Economics and applied Econometrics at the Ruhr-University of Bochum and head of the research division "environment and resources is out of plan" at the RWI.

wind turbines costs - especially the residents of

is often overlooked is that renewable technologies have significant disadvantages. In addition to their low contribution to security of supply and its lack of cost-effectiveness, which the electricity consumers are now more than 25 billion euros per year tax, brings each of the green technologies to their specific problems.

So that the wind turbine noise pollution, provide bats and birds threaten and affect the landscape. And, the mere existence of the plants can cause serious losses in the immediate residents , because their plots of land and real estate with the construction of wind turbines in your area lose much of its value. The high number of around 1000 citizens ' initiatives against wind power, which is now available in Germany, is a strong indication of such negative external effects. With Stock Selection in Europe, you will achieve excess Returns with System! (Partner offer) Now 30 days free of charge test!

Until Recently, a systematic study and quantification of such assets due to the lack of losses for Germany. With an extensive empirical study has now delivered the RWI evidence that wind turbines can lead to a fall in prices of single-family homes in your immediate area.

Only eight kilometers no effect on prices decreases more

The value of a house in a distance of one kilometre of a wind power plant, therefore, in average to good 7 percent . The Installation of a wind turbine can mean for homeowners, therefore, a property loss of tens of thousands of euros.

For the study, the RWI analyzed 2.7 million sale offers , and are published in 2007 and in 2015 on the Online Portal Immoscout24. The impact on real estate prices have been estimated using a hedonic price model that takes into account many characteristics of the houses and the socio-economic environment, the exact distance between the wind turbines and the considered single-family homes.

With increasing distance from the wind turbine, the effect is reduced. In the case of a distance from eight to nine kilometres wind power plants according to the RWI prices study, no effect on the real estate. As the RWI study, moreover, do not suffer from all the real estate of the same value loss: most old houses are affected in rural areas. Here, the loss in value within a One-mile Radius can be as much as 23 percent. In contrast, the houses lose out in the property location with the same distance to a wind power plant is hardly of value. This could be due to the fact that in urban areas, disturbance of the landscape or noise are less conspicuous than on Land. Small Caps Champion: your 3 pillars for a successful wealth accumulation. Successfully and safely in addition to values invest. (Partner quote) Here is an exclusive free trial!

In the case of wind power Offshore should the Expansion preferably should

in view of these results, the current discussion on the legal regime of the packages Minimum distance in the construction of new wind turbines are from 1000 meters to settlements with a size of five houses, only too understandable, and the policy should draw consequences from it. Currently, investments in wind power plants in the country, of which only a few benefit, which is a matter for but all private consumers of electricity loads and suffer many of the local residents in considerable degree to have, not a socially acceptable model for a sustainable power supply. Therefore, should not be eliminated, the further Expansion of country for the time being, entirely, as long as the wind strength of competition is still capable of.

Instead, it should increasingly be on the Development of wind power off the coasts of Germany set. How the commandments show at the previous auction rounds, some investors will assume that you will do in the case of Offshore wind parks in the future, without subsidies, in the Form of compensation for the power fed-in wind power. And in the case of the wide intervals of the German coasts, which have to comply with Offshore wind parks, are the losses in the value of real estate in no case to worry about.

Should be the wind power on Land will also one day be competitive, then the current difficulties in the Installation of new wind turbines very clearly that, in the future, is essential to ensure that the negative impacts on residents are minimized.

The Text first appeared in the economist blog of the INSM.

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Updated Date: 14 February 2020, 16:00

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