Report: U.S. Green Building Market Will Reach $173.5 Billion by 2015
According to the most recent report by EL Insights, the U.S. green building market value will balloon from $71.1 billion now to $173 billion by 2015. Of that, commercial green building is expected to grow by 18.1% annually during the same time period from $35.6 billion to $81.8 billion. This explosive projected growth is attributed both to a growing recognition of the potential cost-savings as well as incentives from the government. Green building renovation also comprises a significant portion of future green building. The growth in green building will lead to a number of changes in the broader building market, according to EL Insights: Construction workers will increasingly seek out green training programs, companies will spend more cash on green building technology, and homes touting green building features will do better on the real estate market. All of this will result in cost savings for building and home owners, who will reap the benefits of lower energy and heating bill. The U.S. Green Building Council, offers virtually endless amounts of information on green building studies and LEED certification.