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Smells Like Green Energy - Quasi-Experimental Evidence on the Impact of Bioenergy Production on Residential Property Values

  • 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.

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Metadaten
Author: Christin HoffmannORCiD, Shanmukha Srinivas Byrukuri Gangadhar, Felix Müsgens
DOI:https://doi.org/10.2139/ssrn.4760312
ISSN:1556-5068
Title of the source (English):SSRN eLibrary
Document Type:Scientific journal article not peer-reviewed
Language:English
Year of publication:2024
Tag:Bioenergy; Hedonic pricing; Local acceptance; differences-in-differences
First Page:1
Last Page:26
Way of publication:Open Access
Faculty/Chair:Fakultät 3 Maschinenbau, Elektro- und Energiesysteme / FG Energiewirtschaft
Zentrale Einrichtungen / Energie-Innovationszentrum / Energy Economics Lab
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