Economics

As New York embraces climate and renewable energy goals, farmers, landowners and rural New Yorkers are seeing a rise in large-scale solar developments. 

In several research projects, we quantify the capitalization effects of proximity to solar facilities as well as important energy infrastructure such as electricity transmission lines and substations on nearby farmland values. 

Preliminary analysis reveals that farmland parcels within close proximity to electricity transmission lines or substations enjoy substantial price premium in sales prices in recent years following enactment of statewide solar energy incentives programs.

Research Area Team

A headshot of Wendong Zhang
Wendong Zhang

Assistant Professor

Charles H. Dyson School of Applied Economics and Management

Wendong Zhang
  • wendongz [at] cornell.edu
a man in a suit sits in front of a gray wall
Ariel Ortiz-Bobea

Associate Professor

Charles H. Dyson School of Applied Economics and Management

Ariel Ortiz-Bobea
  • ao332 [at] cornell.edu
louis longchamps
Louis Longchamps

Assistant Professor

School of Integrative Plant Science

Soil and Crop Sciences Section

Louis Longchamps
  • ll928 [at] cornell.edu
Farmer-centric on-farm experimentation
Farm data management
Precision agriculture
a man in a gray suit sits in front of a gray wall
Todd Schmit

Professor

Charles H. Dyson School of Applied Economics and Management

Todd Schmit
  • tms1 [at] cornell.edu

Related research

Faculty: Wendong Zhang, Ariel Ortiz-Bobea, Dyson School 

As New York embraces climate and renewable energy goals, farmers, landowners and rural New Yorkers are seeing a rise in large-scale solar developments. In several research projects, we quantify the capitalization effects of proximity to solar facilities as well as important energy infrastructure such as electricity transmission lines and substations on nearby farmland values. Preliminary analysis reveals that farmland parcels within close proximity to electricity transmission lines or substations enjoy substantial price premium in sales prices in recent years following enactment of statewide solar energy incentives programs.  

Using Google Earth engine, this web portal produced by Justin Li (Dyson undergraduate) and Wendong Zhang enables better visualization of farmland parcels’ land use before and after the constructions of solar facilities.  

Working with the American Sheep Grazing Association and the Cooperative Enterprise Program, Cornell is focused on economic analysis to determine the feasibility of cooperative models to help establish solar sheep grazing businesses as 'adjacent' to the emerging utility scale solar industry, creating opportunities for farmers and for renewable energy developers to manage large, vegetated acres while growing farm businesses.