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The Influence of Wind Energy and Biogas on Farmland Prices

Department of Agricultural Economics, Humboldt-Universität zu Berlin, Phillippstr. 13, 10115 Berlin, Germany
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Received: 11 December 2018 / Revised: 10 January 2019 / Accepted: 11 January 2019 / Published: 15 January 2019
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Abstract

In the context of the rapid development of renewable energy in Germany in the last decade, and increased concerns regarding its potential impacts on farmland prices, this paper investigates the impact of wind energy and biogas production on agricultural land purchasing prices. To quantify the possible impact of the cumulative capacity of wind turbines and biogas plants on arable land prices in Saxony-Anhalt, we estimate a community-based and a transaction-based model using spatial econometrics and ordinary least squares. Based on data from 2007 to 2016, our analysis shows that a higher cumulative capacity of wind turbines in communities leads to higher farmland transaction prices, though the effect is very small: if the average cumulative capacity of wind turbines per community doubles, we expect that farmland prices per hectare increase by 0.4%. Plots that are directly affected by a wind turbine or part of a regional development plan, however, experience strong price increases. View Full-Text
Keywords: farmland prices; wind energy; biogas; hedonic pricing model; spatial econometrics farmland prices; wind energy; biogas; hedonic pricing model; spatial econometrics
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This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited (CC BY 4.0).
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Myrna, O.; Odening, M.; Ritter, M. The Influence of Wind Energy and Biogas on Farmland Prices. Land 2019, 8, 19.

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