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Green Outlook 2009
By all accounts, we are mired in a construction market downturn, with one notable bright spot—the growing demand for green buildings–driven by demonstrable economic benefits.
Research provided by McGraw Hill Construction’s SmartMarket Report, Green Outlook 2009: Trends Driving Change, shows the residential and non-residential green building market more than doubling by 2013, reaching between $96–$149 billion versus today’s $36–$49 billion.
Three commercial and institutional market sectors will show the biggest growth: education, healthcare, and offices. Due partly to increased government requirements and incentives, many believe that green buildings will be less affected by the downturn.
The construction and renovation of public buildings may well benefit from the Obama administration’s emphasis on infrastructure spending. Green offices are continuing to be a priority for many corporate sustainability strategies. Residential builders, according to the MDC report see a marketing advantage for homes with green features that offer decreased operating and maintenance costs.
In fact, bottom line performance and market differentiation drive the green building market in all sectors.
- Corporate leaders report lower operating costs, increased building values and improved ROI.
- On average, green homeowners see an 18 percent reduction in energy and water bills.
- School administrators and facility managers report an 11 percent decrease in operating costs and 14 percent less energy use.
- Healthcare owners report an 8 percent increase in patient recovery rates.
All sectors also report a stronger constituent interest in green products. Specification rates for Energy Star, FSC, Green Seal, and GreenGuard are climbing. Experts foresee continued growth in renewable energy use, as well as the use of LEED.
This is all good news. Leverage it into your business strategies during this troubled economy and perhaps, you’ll sail right through. Good luck!