Solar Capitalization in Western Australian Property Market（太阳能在澳洲房屋市场的资本化）

报告题目：Solar Capitalization in Western Australian Property Market（太阳能在澳洲房屋市场的资本化）

报 告 人：Chunbo Ma博士

报告时间：9月29日（周一）下午14：30

报告地点：天津大学第25教学楼 A区三层 教室B

报告摘要：

Using a large sample of property sales data and high-resolution aerial maps, this study provides the first empirical estimate of the price premium of properties with photovoltaic (PV) panels in Australia. We use three model specifications to control for spatial heterogeneity and correlation as well as price dynamics over time. Results from hedonic models, repeated sales models and hybrid models have all shown strong evidence that PV panels contribute a 2.34 to 4.12 percent premium to properties prices. This suggests that PV investments are, on average, over-capitalized into property prices during our sample period, which we argue is largely a reflection of changing policy parameters regarding feed-in tariffs. Greater premium is found in localities with a larger share of votes for the Green Party and Australian Labor Party in 2008 State Election and votes for no daylight saving in 2009 State Referendum, registered Prius hybrid vehicles and college graduates and postgraduates. The results have significant implications for property owners, builders, financial institutions, PV retailers, and policy makers.

报告人简介：

Chunbo Ma received his Ph.D. in Ecological Economics, Rensselaer Polytechnic Institute, United States and his B.Sc. in Economics, Nankai University. He is currently an Assistant Professor (tenured in 2012) in School of Agricultural and Resource Economics, Faculty of Natural and Agricultural Sciences, UWA, Perth, Australia as well as a Research Associate in Centre for Environmental Economics and Policy, University of Western Australia, Perth, Australia. He was offered the Australia-China Emerging Future Leaders Fellowship in Low Emission Coal Technology, Australian Academy of Technological Sciences and Engineering (ATSE), 2013.And his research interests cover the Environmental Economics, Energy Economics, Environmental Risks and Policy, Efficiency and Productivity, Non-market Valuation, Spatial Economics and Chinese Economy.