New report by McGraw-Hill Construction says, the green building real estate market in the United States is projected to double size in 2015, and is continuously increasing since 2008. The report is from the recent Greenbuild conference by the United States Green Building Council this week.
The Greenbuild conference has attracted thousands of people. It has attended by thousands from almost 100 countries, and 900 green companies that are exhibiting their products.
The keynote speaker for the opening is Mr. Colin Powell, former secretary of State.
According to McGraw-Hill Construction’s report Green Outlook 2011, the value of green building construction in the country rose to $71 billion for this year from 2008’s $42 billion—almost 50 percent.
In the report, about 25 percent of the construction activities in the country are composed of green building construction. The figures are also expected to increase from $71 million to $135 million in 2015.
Building owners too, appreciates the value of green projects for it reduces 13.6 percent of its operating cost, and about 8.5 percent for retrofits. Still, about 64 percent of the survey participants mirrors the amount of money saved when opting for a green project.
And as of September 2010, the report stated that 33 states and 12 federal agencies had green building initiatives and legislation. The report also said that the figures are connected to building owner’s who want market differentiation, expansions, and an increasing public awareness.
McGraw-Hill Construction’s vice president Harvey M. Bernstein says, the real estate market for green building is an impressive area of opportunities, considering today’s extremely challenged market.