ABSTRACT

This article investigates the effect of fossil fuel-fired power plant locations on the value of neighbourhood properties in the state of New South Wales, Australia. Fossil fuels account for a significant proportion of electricity generation in Australia. Thus, there are growing community concerns regarding the possible negative environmental effects of these power plants given the high levels of emissions produced by these plants. Such concerns could potentially impact on property values. We use a comprehensive dataset with the exact location of each property to estimate the effects of existing fossil fuel-fired power plants on the value of neighbourhood properties. We use spatial econometric models to estimate these effects with controls over several property characteristics and the type of power plant. Our results suggest that coal-fired power plants have significant negative effects on property values within a specific radius. These effects are likely to be lower but still negative for properties in the vicinity of gas-fired and gas reciprocating power plants.

摘要

本文研究了化石燃料发电厂的位置对澳大利亚新南威尔士州社区财产价值的影响。化石燃料占澳大利亚发电量的很大一部分。因此，鉴于这些发电厂产生的高排放水平，社区越来越关注这些发电厂可能对环境造成的负面影响。这种担忧可能会影响房产价值。我们使用包含每个房产确切位置的综合数据集来估计现有化石燃料发电厂对社区房产价值的影响。我们使用空间计量经济学模型来估计这些影响，并控制几个属性特征和发电厂类型。我们的研究结果表明，燃煤电厂对特定半径内的房产价值有显着的负面影响。这些影响可能较低，但对燃气和气体往复式发电厂附近的物业仍然不利。