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Valuing a Wind Farm Construction: A Contingent Valuation and Long-run Cost Benefit Analysis

Lookup NU author(s): Dr Kyriaki Remoundou

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Abstract

Our analysis is based on data from a double-bounded dichotomous choice contingent valuation study implemented to elicit public attitudes towards renewable energy generation and their willingness to pay for the construction of a wind farm in the area of Messanagros in the island of Rhodes, Greece. Results indicate that there are significant positive values deriving from the proposed project. Respondents report a mean willingness to pay a premium in their bi-monthly electric bills of €8.86 for the sole purpose of the construction of the wind farm. The estimated economic benefits to the local population are weighed against the investment cost in a cost–benefit analysis to inform policy making and implications for EU energy policy are provided.

Publication metadata

Author(s): Koundouri P, Kountouris Y, Remoundou K

Publication type: Article

Publication status: Published

Journal: Energy Policy

Year: 2009

Volume: 37

Issue: 5

Pages: 1939-1944

ISSN (print): 0301-4215

ISSN (electronic): 1873-6777

Publisher: Elsevier Ltd

URL: http://dx.doi.org/10.1016/j.enpol.2009.01.036

DOI: 10.1016/j.enpol.2009.01.036

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