Green Building's Economic Benefits

Buildings designed or retrofitted with green practices in mind, such as sustainability, conservation and efficiency, outperform similar non-green assets, according to a recent study by the CoStar Group.

Projects certified under such systems as LEED and the Energy Star Labelling program are in higher demand these days, the study claims, and not just because of efficiency improvements, minimization of impact upon the environment, and increase of renewable materials and resources usage. Their research discovered that green building leads to higher sale prices, occupancy rates and rental rates, strengthening the argument from all sides of the debate as to whether or not such practices are beneficial to margins as well as the environment.

According to its writers, the report findings "are promising for the benefits of investment in sustainable real estate, energy savings and for the green movement now sweeping our society. The payoff from wise green investment is easy to justify even if based on purely profit motivations."

The USGBC's LEED Rating System and Energy Star's Labelling program, whilst having differing methods for achieving green practices in building, can work independently or in conjuction with each other. LEED, in its own words, "measures how well a building or community performs across all the metrics that matter most: energy savings, water efficiency, CO2 emissions reduction, improved indoor environmental quality, and stewardship of resources and sensitivity to their impacts." The Energy Star Label, on the other hand, specifically looks to define and measure the efficiency of buildings so as to achieve reduced operating costs and decrease overall energy usage.

Find out more about green building and how renewable energy can be involved by visiting our website, or view the landing pages for the LEED and Energy Star green building programs.

PERSONALLY SPEAKING

It's nice to see a solidification of the economic benefits to complement all the environmental gains that can be made from green building. The widespread push for sustainability that is occurring the world over is gaining traction, and with reports such as this one, we see that more and more people care enough about such practices to in fact pay more in rent or purchase costs when a building is certified as green. So don't get left behind by following conventional building methods in your next project... ~Matt

Matt Kiszka is a Green Building Project Manager for Renewable Choice Energy