Benefits of Green Building
Date Posted: June 30, 2020
Posted In: Discussion,
From USGBC: According to the most recent IPCC report, a “rapid and far-reaching” sustainable transition in land, energy, buildings, transport and cities is needed to meet global carbon reduction goals. Buildings account for almost 40 percent of global energy-related CO2 and will play a major role in a sustainable transformation.
Green buildings, like those that are LEED certified, are a global solution for cities, communities and neighborhoods. The tangible benefits may not be easily recognizable to tenants or visitors, but through sustainable design, construction and operations green buildings are reducing carbon emissions, energy and waste; conserving water; prioritizing safer materials; and lowering our exposure to toxins.
These outcomes are contributing to the global growth of the industry. According to the 2018 World Green Building Trends SmartMarket Report, many in the building and construction industry expect the majority of projects in the next three years to be green buildings. Looking ahead, creating spaces that support our health and well-being, as well as the economy and environment will be vital to accelerating sustainable development and delivering a better standard of living.
Profitable, cost-effective and good for the economy
- The top two triggers for green building in the U.S. are client demands and healthier buildings, but the economic benefits can’t be overlooked. Operating cost savings, shorter payback periods and increased asset value in new green buildings and green retrofits have been consistently reported.
- Upfront investment in green building also makes properties more valuable, with a growing number of building owners seeing a 10 percent or greater increase in asset value. The percentage of owners reporting that level of growth has nearly doubled since 2012.
- Green buildings reduce day-to-day costs year-over-year. LEED buildings have reported almost 20 percent lower maintenance costs than typical commercial buildings, and green building retrofits typically decrease operation costs by almost 10 percent in just one year.
- Green buildings are for every market and every community. A report on the Los Angeles market indicated that while traditional (non-LEED certified) buildings receive an average of $2.16/ft2, tenants were willing to pay $2.91/ft2 for LEED certified space.
- The University of Texas at Austin looked at resale value on homes in the Austin-Round Rock Metropolitan Statistical Area and found that homes built to LEED standards between 2008-2016 showed an eight percent boost in value, while homes built to a wider range of green standards saw a 6 percent increase in value.
- To-date, green building has created millions of jobs and contributed hundreds of billions of dollars to the U.S. economy. From 2011-2014, national green construction generated $167.4 billion in GDP. In Texas alone, more than 720,000 jobs were attributable to green construction during that time. In 2014, LEED-related employment directly contributed $1.09 billion of individual income tax to states.