This article presents the results of a hedonic property value analysis for multiple hydropower sites along the Kennebec River in Maine, including the former site of the Edwards Dam in Augusta, Maine. The effect of the removal of the Edwards Dam on the Kennebec River in Maine is examined through consumer's marginal willingness to pay to be close to or distant from the dam site. Data from both before and after the dam was removed are used to estimate changes in marginal prices. A similar data set is also used to look at the effects of the remaining upstream dams on property values.This article presents one of the first (to our knowledge) ex post analyses on the economic impact of dam removal on property values. As more privately owned dams in the United States come up for relicensing, evaluating the impacts with and without the dam will become increasingly important. This work can help inform those analyses.
This paper uses hedonic analysis to examine the impact of small dam removal on property values in south-central Wisconsin. Data on residential property sales wereobtained for three categories of sites: those where a small dam remains intact, thosewhere a small dam was removed, and those where a river or stream has been free flowing for at least 20 yr. The primary conclusions that emerge from the data arethat shoreline frontage along small impoundments confers no increase in residentialproperty value compared to frontage along free-flowing streams and that nonfrontage residential property located in the vicinity of a free-flowing stream is more valuablethan similar nonfrontage property in the vicinity of a small impoundment.