Green homes comprised 23 percent of the overall residential construction market in 2013 and are expected to grow to between 26 percent and 33 percent of the market by 2016.
The housing slump in recent years didn’t stop the green building movement, in fact, indications are that segment accelerated. According to McGraw Hill Construction research dating back to 2006, builders experienced in green remained in business at higher proportions than those not knowledgeable about energy-efficient and green home building.
The trend will continue, as green home construction over three years is expected to grow from $36 billion in 2013 to $83-$105 billion in 2016, based on the current McGraw Hill Construction forecast for total residential construction.
McGraw Hill Construction released findings from a new Green Home Builders and Remodelers Study at the recent National Association of Home Builders (NAHB) International Builders’ Show.
The study shows that the top drivers to increased green home building activity include changes in codes and regulations, better quality, wider availability and affordability of green products, energy costs, and competitive advantage.