November 20, 2008
Green Building Could Hit $140 Billion By 2013
The value of green building construction starts was up from $10 billion in 2005 to $36-$49 billion in 2008, and could triple by 2013, reaching $96-$140 billion, according to McGraw-Hill Construction’s Green Outlook 2009: Trends Driving Change report.
The report attributes green building’s expansion to growing public awareness, an increase in government regulations, and recognition of bottom-line advantages. Since 2005, the perceived benefits of green building have increased and differentiated as people become more knowledgeable about green building.
The decrease in operating costs is the most often cited benefit (13.6%, up from 8-9% in 2005), followed by the increase in building values (10.9%, up from 7.5% in 2005).
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