Green buildings yield significant operational cost savings compared with traditional buildings and produce higher asset values, according to the World Green Building Trends 2016 Smart Market Report, by Dodge Data & Analytics and United Technologies Corporation.
More than 1,000 survey participants from 69 countries said they expect a 14% savings in operational costs over five years for new green buildings, and 13% savings over five years for green retrofits and renovations. In addition, building owners say that green buildings, both new and renovated, carry a 7% increase in asset value over traditional buildings.
These findings explain why building industry professionals forecast that more than 60% of their projects will be built to green standards by 2018. They also support the notion that green leases are becoming more attractive to tenants and investors, who are willing to pay premiums for long-term benefits.
Recent studies have indicated that green workplaces also benefit the bottom line by improving employee productivity and reducing absenteeism, staff turnover, and medical costs.
Related Stories
Codes and Standards | Apr 20, 2021
U.S. electric grid is halfway to zero carbon
Other sectors including buildings lag power industry.
Codes and Standards | Apr 19, 2021
Failed landmark preservation effort in Chicago provides lessons for planners
Gentrification fears heightened among Pilsen neighborhood residents doomed ambitious preservation plan.
Codes and Standards | Apr 14, 2021
New Phase 1 Environmental Site Assessment standard debuts in 2021
Will affect 250,000 commercial real estate deals a year.
Codes and Standards | Apr 13, 2021
British Columbia moves to accelerate mass timber construction
Province funds demonstration projects as part of economic recovery.
Codes and Standards | Apr 12, 2021
WoodWorks and Think Wood release first Mass Timber Design Manual
Interactive collection of information on mass timber products, design best practices, taller wood construction and sustainability.
Codes and Standards | Apr 8, 2021
Sensors used in tunable lighting systems found to have high reliability
DOE study investigated items used to control lumen depreciation, chromaticity shifts, and changes in drivers.
Codes and Standards | Apr 7, 2021
Red tape ruined the U.K.’s home retrofit program
Lessons learned could help US avoid that fate.
Codes and Standards | Apr 6, 2021
Lendlease achieves net-zero carbon in Boston, Chicago multifamily portfolio
New projects in New York, Los Angeles on track to reach goal.
Codes and Standards | Apr 5, 2021
Specification for sliding door, lift and slide roller assemblies updated
Addresses market trend toward heavy sliding doors.
Codes and Standards | Apr 5, 2021
Construction employment rebounds in March following February drop
Rising costs, supply-chain woes, and cancellations threaten outlook.