Green Buildings Are Top Performers, Say Surveys
The studies were conducted by the New Buildings Institute and the CoStar group.
Nicholas Tamarin -- Interior Design, 4/11/2008 12:00:00 AM
Two studies recently released by the New Buildings Institute and the CoStar Group suggest that green buildings outperform their conventional counterparts in energy savings, sale price, rental and occupancy rates.
The NBI study, funded by the U.S. Green Building Council and the U.S. Environmental Protection Agency, found that buildings certified by the USGBC LEED system are, on average, performing 25 to 30 percent better than non-LEED certified buildings in terms of energy use. NBI's study showed that there is a direct correlation between increasing levels of LEED certification and increased energy savings. The study also found that buildings labeled under the EPA's Energy Star program used, on average, almost 40 percent less energy than standard buildings, and emit 35 percent less carbon.
According to the study conducted by CoStar, an information supplier for the real estate industry, LEED buildings command rent premiums of $11.24 per square foot over non-LEED certified buildings and have 3.8 percent higher occupancy rates. LEED buildings, the study suggests, sell for $171 per square foot more than their counterpart.
Energy Star buildings represent a $2.38 per square foot premium over comparable non-Energy Star buildings, according to the CoStar study, and have a 3.6 percent higher occupancy. The study also shows that Energy Star buildings sold for an average of $61 per square foot more than buildings not certified under the program.
"Energy Star is a prerequisite in LEED for Existing Buildings, signaling our strong commitment to the energy savings component of green buildings," says Brendan Owens, vice-president of LEED technical development. "Add to that the additional performance enhancements in LEED around intelligent site selection, water conversation, improved indoor air quality, waste reduction and smarter materials selections, and it's easy to understand why owners and tenants are placing a premium on green buildings."
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