The Local Economic Impact of Wind Power Deployment

This study focuses on the local economic impacts of wind power deployment. Wind power deployment is not necessarily driven by locally accruing economic payoffs only, but potentially also by other factors, such as emphasis on environmentally friendly energy production and its associated benefits. Thu...

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Bibliographic Details
Published inFinanzarchiv Vol. 75; no. 1; pp. 56 - 92
Main Authors Nilsen, Øivind A., May, Nils
Format Journal Article
LanguageEnglish
Published Tuebingen Mohr Siebeck 01.01.2019
Subjects
Alternative energy sources
Ambiguity
Deployment
Economic development
Economic impact
Economic models
Electricity
GDP
Gross Domestic Product
Installation
Panel data
Per capita
Property values
Renewable resources
Studies
Tariffs
Turbines
Wind power
Canada
United Kingdom > UK
United States > US
China
Germany
Wales
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Summary:This study focuses on the local economic impacts of wind power deployment. Wind power deployment is not necessarily driven by locally accruing economic payoffs only, but potentially also by other factors, such as emphasis on environmentally friendly energy production and its associated benefits. Thus, the local economic impacts of wind power deployment are ambiguous. We empirically test the existence of such impacts using German county-level panel data. After controlling for a set of observable and unobservable factors, the results show that wind power installation does not have a statistically significant impact on GDP per capita. The findings suggest that local economic impacts alone cannot explain the observed increase in wind power capacity.
ISSN:0015-2218
1614-0974
DOI:10.1628/fa-2018-0021