Valuing a wind farm construction: A contingent valuation study in Greece
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 [euro]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.
Year of publication: |
2009
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Authors: | Koundouri, Phoebe ; Kountouris, Yiannis ; Remoundou, Kyriaki |
Published in: |
Energy Policy. - Elsevier, ISSN 0301-4215. - Vol. 37.2009, 5, p. 1939-1944
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Publisher: |
Elsevier |
Keywords: | Contingent valuation Renewable energy Wind farm |
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