Economic valuation of an offshore wind farm in Greece: The role of individual׳s base-state influences and beliefs in the value formation process

Georgiou, Isabella

doi:10.1016/j.rser.2015.07.178

Cited by 12 publications

(4 citation statements)

References 27 publications

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“…For the second part of the survey instrument, a double-bounded contingent valuation approach was used to also estimate the respondents' WTP a utility fee in United States Dollars, $ hereafter, to implement a program to protect trees in urban and near-urban areas by preventing and monitoring the introduction of forest pests. This analytical approach has been used in a variety of other studies involving non-market valuation for issues such as safer drinking water [47,48], green energy [49][50][51], damage from oil spills [52], and forest resource restoration [53].…”

Section: Analytical Approachmentioning

confidence: 99%

Public Preferences and Willingness to Pay for Invasive Forest Pest Prevention Programs in Urban Areas

Adams

Soto

Lai

et al. 2020

Forests

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Invasive forest pests can cause environmental and economic damage amounting to billions of dollars (US) in lost revenues, restoration and response costs, and the loss of ecosystem services nationwide. Unfortunately, these forest pests do not stay confined to wildland forest areas and can spread into suburban and urban areas, imposing significant costs on local governments, homeowners, and management agencies. In this study, a contingent valuation experiment is used to estimate Florida residents’ willingness to pay (WTP) a monthly utility fee that would protect urban forests from invasive pests by implementing a monitoring and prevention program for their early detection and eradication. On average, the respondents are WTP US $5.44 per month to implement the surveillance program, revealing an aggregate WTP in the order of US $540 million per year. The results also reveal that respondents are sensitive to the scope of the program, with higher rates of participation and higher WTP for a program that is more effective at preventing forest pest invasions.

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Section: Analytical Approachmentioning

confidence: 99%

Public Preferences and Willingness to Pay for Invasive Forest Pest Prevention Programs in Urban Areas

Adams

Soto

Lai

et al. 2020

Forests

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“…Though these studies do not use visualisations, they still aim to estimate preferences for visual impacts attributes. Except for three (Navrud and Bråten, 2007;Börger et al, 2015;Georgiou and Areal, 2015), all of the studies include more than one visual attribute. Based on the model for preferences shown in eqs.…”

Section: No Visualisationsmentioning

confidence: 99%

“…This might be relatively easy when the study only includes one visual attribute, as done in Navrud and Bråten (2007);Börger et al (2015); Georgiou and Areal (2015). However, when the studies include more than one visual attribute, the cognitive burden increases substantially, as the respondents are asked to trade-off visual impacts in multiple dimensions.…”

Section: No Visualisationsmentioning

confidence: 99%

Estimating Preferences for Wind Turbine Locations - A Critical Review of Visualisation Approaches

Koch

Ladenburg

2016

SSRN Journal

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As the amount of wind energy installed capacity keeps growing, in Europe and the world in general, the siting of wind projects near population or recreational centres becomes a frequent possibility. Therefore, it is of high interest for policy makers and developers to be able to quantify the effect of wind projects on public acceptance.Currently, one of the main drivers for acceptance of wind turbines by the public is their level of visual impacts. While recent studies have focused on estimating the welfare loss of visual impacts from wind turbines, a large share of the applied studies have used no or very simple visualisation of the actual visual impacts at stake. These studies thus rely on the cognitive skills of the respondents to imagine wind turbines of different sizes and locations; and on the prior experience people have had with wind turbines.By extending the economic model of perceived quality developed by Blomquist and Whitehead (1998), this paper provides a theoretical argument for the need of visualisations when describing valuation scenarios for respondents, as well as the relevance to correctly define the amount of attributes of the good to be represented on the visualisation, and which visualisation techniques to utilise. Afterwards, we propose a framework for classifying different visualisation types and utilise it to classify recent studies regarding wind turbines acceptance, highlighting the lack of visualisations in recent studies, as well as the need to raise the bar on scenario descriptions for wind turbine visual impacts valuation.

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“…The process for the valuation of distributed wind is not yet routine [12], with a wide variety of approaches being used. Several studies have investigated the value of small-scale wind projects using real options analysis [13][14][15], techno-economic analysis [3,5,[16][17][18][19], and even contingent valuation [20]. Most of these studies only investigate the feasibility of a potential system in an area.…”

Section: Introductionmentioning

confidence: 99%

Valuation of Distributed Wind in an Isolated System

et al. 2021

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Remote communities are increasingly adopting renewable energy, such as wind, as they transition away from diesel energy generation. It is important to understand the benefits and costs of wind energy to isolated systems so that decision-makers can optimize their choices in these communities. There are few examples of valuation of wind energy as a distributed resource and numerous differences in valuation approaches, especially in the inclusion of environmental and economic impacts. We apply a distributed wind valuation framework to calculate the benefits and costs of wind in St. Mary’s, Alaska, to the local electric cooperative and to society, finding that the project does not have a favorable benefit-to-cost ratio unless societal benefits are included, in which case the benefit-to-cost ratio is nearly double. Government funding is important to reducing the initial capital expenditures of this wind project and will likely be the case for projects with similar characteristics. Additional fuel savings benefits are potentially possible for this project through technological additions such as energy storage and advanced controls.

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Economic valuation of an offshore wind farm in Greece: The role of individual׳s base-state influences and beliefs in the value formation process

Cited by 12 publications

References 27 publications

Public Preferences and Willingness to Pay for Invasive Forest Pest Prevention Programs in Urban Areas

Public Preferences and Willingness to Pay for Invasive Forest Pest Prevention Programs in Urban Areas

Estimating Preferences for Wind Turbine Locations - A Critical Review of Visualisation Approaches

Valuation of Distributed Wind in an Isolated System

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