Green Building Market Still Growing Despite Weak Economy

The economy may be on a downward spiral, with investors keeping their funds closer to the chest, but so far the green building market looks like it’s still on the rise. Public perception of the costs of green buildings is changing – people are becoming aware of the fact that many aspects of green building save money in the long run.

From BizJournals Green:

McGraw-Hill Construction released a report on Wednesday that found the value of green building construction starts was up five-fold from 2005 to 2008. According to the Green Outlook 2009: Trends Driving Change report, starts were up from $10 billion in 2005 to $36 to $49 billion this year and could triple by 2013, reaching $96 to $140 billion.

The report — based on data found in the McGraw-Hill Construction Network — was released on Wednesday at the Greenbuild International Conference and Expo in Boston. The survey found that, since 2005, the perceived benefits of green building have increased as people become more informed about green building. The decrease in operating costs is the most often cited benefit (13.6 percent, up from 8 percent to 9 percent in 2005), followed by the increase in building values (10.9 percent, up from 7.5 percent in 2005).

It’s yet another example of how the green market is going to continue to shine through this downturn. As we’ve noted before, during tough times, the things people do to save money are often environmentally friendly by nature. Now is a great time to push green ideas that save money, energy and resources.

Link [BizJournals Green]
Photo credit: Independence Station

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