Global interest and demand is growing for green building design, construction, and operations due to the long lifespan of buildings and the risk of ‘locking in’ inefficient and environmentally harmful technologies. With demand spurred by a growing global middle class, an estimated 230 billion m² of additional buildings will be constructed over the next 40 years according to the World Green Building Council, with a US Green Building Council survey showing that 57% of building owners have indicated their interest in making the majority of their future construction projects ‘green’.
In addition to new construction, existing buildings are being retrofitted to become more environmentally friendly through projects such as upgrading to energy efficient appliances, installing renewable energy sources, adding green roofs that reduce air-conditioning costs and manage stormwater, and using sustainable materials for insulation to reduce heating and cooling costs.
Once considered to be too expensive to reach scale, green building projects are proving to be cost efficient and improve the overall value of the building. It is estimated that green building investments pay for themselves in energy savings within an average 6 years and also increase the property value of a building by an average of 7%.