Table 4

Regression Results by Site Characteristics

Variable	Model 11	Model 12	Model 13	Model 14
Capacity	≤5 MW	>5 MW	≤5 MW	>5 MW
Orientation	North	North	South	South
Distance	≤750 m	≤750 m	≤750 m	≤750 m
Operational	0.017	−0.038	0.021	−0.056^***
Operational	(0.030)	(0.025)	(0.032)	(0.016)
Submitted–permitted	0.010	−0.009	−0.000	−0.029^*
Submitted–permitted	(0.017)	(0.032)	(0.016)	(0.017)
Permitted–construction	−0.016	−0.025	−0.008	−0.017
Permitted–construction	(0.016)	(0.023)	(0.017)	(0.018)
Construction–operational	−0.011	0.028	0.003	−0.015
Construction–operational	(0.018)	(0.028)	(0.025)	(0.026)
New	0.113^***	0.062^***	0.086^***	0.078^***
New	(0.018)	(0.015)	(0.012)	(0.014)
Property fixed effects	Yes	Yes	Yes	Yes
Time trends	Yes	Yes	Yes	Yes
No. observations	24,030	9,619	27,738	11,682
No. properties	14,513	5,810	16,793	7,096
No. solar farms	284	204	285	192
R-squared (within)	0.025	0.020	0.023	0.027

Note: Figures in parentheses are robust standard errors. The dependent variable is ln(PRICE).
↵* p < 0.1;
** p < 0.05;
↵*** p < 0.01.