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Energy Efficiency

Demand for ‘green homes’ will drive construction market’s future – report

By 2016, "green homes" will make up 29 to 38 percent of the total construction market, bringing in $87 to $114 billion in investments.

According to a report released by McGraw-Hill Construction at the National Association of Home Builders' National Green Building Conference and Expo, the growing perception that green homes are better built and are of higher quality than traditional homes will drive market growth higher in the next five years.

"When builders are able to offer homes that not only are green, but also offer the combination of higher quality and better value, they have a major competitive edge over those building traditional homes," said Harvey Bernstein, vice president of industry insights and alliances at McGraw-Hill Construction.

For consumers, the draw of these green homes also lies in the perception that they are energy efficient and as such can lower the costs of maintaining a household.

The report noted that 80 percent of builders and remodelers cited the use of energy-efficient features as an important part of their practices.

Other factors cited as important to the green building sector were the improvement of indoor air quality and the use of durable materials. Around 95 percent of high volume home buildings include features that impact air quality while the use of durable materials is a key reason why green homes are perceived as "high quality."

As of 2011, green homes' share of the construction market is estimated to be around 17 percent, equating to $17 billion. – EcoSeed Staff

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