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Green Building Market in U.S. Grows 50% in 2010
2010 U.S. Green Building market rises to $71 billion and represents 25% of all new construction
According to "Green Outlook 2011: Green Trends Driving Growth," a recent report by McGraw-Hill Construction, growth in the green building market has been accelerating in spite of the current recession. The value of green building construction projects begun in 2010 was 50% higher than in 2008, rising from $42 billion to $55-$71 billion, representing 25% of all new construction. The report projects that the green building market will continue to expand, reaching $135 billion by 2015.
The green building market share in non-residential construction is even larger. Fully one third of new nonresidential construction projects ($54 billion) begun recently were green, and the numbers are even higher in certain sectors. Green building is expected to account for up to 40% of health care construction this year ($8 billion-$9 billion), and large shares of the education (valued at $13 billion–$16 billion in 2010) and office building (valued at $7 billion–$8 billion in 2010) construction markets have also gone green. LEED certification has been mentioned in 71% of all 2010 green building projects valued at over $50 million. Nonresidential green building is expected to triple in five years, reaching $120-$145 billion in new construction (40%-48% of the non-residential market) and $14-$18 billion in non-residential retrofit and renovation projects.
"It's an amazing area of opportunity at time when the construction market is extremely challenged," said Harvey M. Bernstein, vice president, Global Thought Leadership and Business Development, McGraw-Hill Construction. "In today's economy, firms that specialize in green or serve this market are seeing a tremendous advantage — and they're doing good at the same time.
Building owners surveyed for the report mainly cited business benefits as the factors that pushed them to build green. Green building reduced operating costs by 13.6% on average for new buildings, increased new building values by an average of 10.9%, and increased the return on investment by 9.9% on average for new buildings and 19.2% for retrofits. Other causes for the expansion of the green building market included an increase in the number of green building initiatives and regulations, an increase in public awareness of the benefits of building green, and building owners’ desires to distinguish their buildings from others in the market.
Recommended for Further Reading:
- La Jolla Pacific - Sustainable Building Consulting for residential and commercial
- Treasury Grant Program Extension could Create 207,000 Solar Industry Jobs
- Totum Consulting: Integrating Green Design and Construction
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Green Building Market in U.S. Grows 50% in 2010 http://t.co/iyO8iXP7 #eco #cleantech #greenbuilding #renewableenergy
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[...] ionrmtaptly, this is one more reason why contractors and design professionals need to learn to speak the language of sustainability particularly in times of recession. Whether we like it or not (and I am on the “like [...]
[...] buildaroo.com [...]
RT @buildaroo: Green Building Market in U.S. Grows 50% in 2010 http://bit.ly/f9myr5 #greenbuilding #building #eco #green
@buildaroo reports that the Green Building Market grew by 50% in 2010 – hoping for an even better 2011! #HVLSFans http://ow.ly/3isnu
Вот так уже четверть! Зеленое строительство рынка в США. Растет 50% в 2010 http://j.mp/eot1OR
Green Building Market in U.S. Grows 50% in 2010 http://goo.gl/wHYy3 - via @Buildaroo.com
Green Building Market in U.S. Grows 50% in 2010 http://ow.ly/3hKr9 via @ecocontractors
RT @buildaroo: #US #Green #Building market Grows 50% in 2010 http://bit.ly/f9myr5 #greenbuilding #eco #LEED
One sector is thriving - US Green Building Market in grows 50% in 2010 to $71B & represents 25% of all new construction http://bit.ly/f9myr5
RT @buildaroo: #US #Green #Building market Grows 50% in 2010 http://bit.ly/f9myr5 #greenbuilding #eco #LEED
Green Building Market Grows 50% in 2010 http://bit.ly/fDFYmO Just curious w/o green bldg will most architects be out of work? @AIA #FB
[...] This post was mentioned on Twitter by Leticia SooHoo, Leticia SooHoo and ecocontractor.org, buildaroo.com. buildaroo.com said: Green Building Market in U.S. Grows 50% in 2010 http://bit.ly/f9myr5 #greenbuilding #building #eco #green [...]