TY - GEN A1 - Hoffmann, Christin A1 - Byrukuri Gangadhar, Shanmukha Srinivas A1 - Müsgens, Felix T1 - Smells Like Green Energy - Quasi-Experimental Evidence on the Impact of Bioenergy Production on Residential Property Values T2 - SSRN eLibrary N2 - Residents' acceptance of bioenergy is a prerequisite for its fast and efficient development but is ambiguously discussed in practice and research. We interpret a causal impact of bioenergy plant commissioning on housing prices in their vicinity as the average net external effects for residents. We utilize bioenergy plant construction data in Germany between 2007 and 2022 as a quasi-experiment with naturally occurring control groups in their vicinity and apply recently improved difference-in-difference estimation procedures to analyze instantaneous and heterogeneous treatment effects. We find a significant and negative impact on housing prices if plants use gaseous biofuel, generate electricity on-site, and are medium-sized. The magnitude of the effect is comparable to those for solar fields. In contrast, we find no impact for small and large bioenergy plants and those that use solid or liquid biofuels. KW - Bioenergy KW - Local acceptance KW - differences-in-differences KW - Hedonic pricing Y1 - 2024 U6 - https://doi.org/10.2139/ssrn.4760312 SN - 1556-5068 SP - 1 EP - 26 ER - TY - GEN A1 - Hoffmann, Christin A1 - Byrukuri Gangadhar, Shanmukha Srinivas A1 - Müsgens, Felix T1 - Smells like green energy the impact of bioenergy production on residential property values in Germany T2 - Science Direkt N2 - One requirement for the fast and efficient development of bioenergy is a clear understanding of the negative externalities bioenergy facilities cause. At this point, discussions in practice and research as to which externalities have an impact and how strong this potential impact actually is remain inconclusive. We utilize bioenergy plant construction data from Germany between 2007 and 2022 and match it with information about real estate in the plants’ vicinity. Applying improved difference-in-difference estimation procedures to analyze heterogeneous treatment effects, we interpret a causal impact of bioenergy plant commissioning on housing prices in the vicinity in terms of the average net external effects affecting the vicinity. Overall, we find a minor negative impact of -0,5 % on home prices within 1 km of bioenergy plants but no statistically significant effect beyond this distance. This suggests that visual pollution has a limited role as an externality of bioenergy plants. However, if we restrict the sample to homes downwind of bioenergy plants, we find a significant yet small negative impact on home prices, ranging from -1,0 % to - 1,3 %. Additionally, homes near bioenergy plants that use gaseous inputs - which emit stronger odors - experience price reductions between -0,4 % to -0,7 %. This lets us conclude that, besides visual pollution, odor emission may play a more significant role in affecting nearby home prices. KW - Bioenergy KW - Oder emission KW - Difference-in-differences KW - Hedonic pricing Y1 - 2025 UR - https://www.sciencedirect.com/science/article/pii/S0140988325002282 U6 - https://doi.org/10.1016/j.eneco.2025.108404 VL - 145 SP - 1 EP - 16 PB - Elsevier B.V. CY - Amsterdam ER -