by Shane Henson — November 28, 2012—More buildings and residences in the United States are being constructed according to “green” principles at this time, and will be over the next few years, according to McGraw-Hill Construction’s 2013 Dodge Construction Green Outlook report. The publication defines a green building as one built to Leadership in Energy and Environmental Design (LEED) or equivalent standards, or one that is energy and water efficient that also addresses improved indoor environmental quality and/or resource efficiency.
According to the report, green building remains a bright spot in a still uncertain economy. Green building is expected to represent 44% of all commercial and institutional construction in 2012, growing up to 55% by 2016. Residential green construction is also on the rise. It is expected that by the end of 2012, green homes will comprise 20% of the market, and in 2013, a 22% to 25% share by value is expected, with that value expected to increase in 2016 to 29% to 38%—an estimated $89 to $116 billion.
Other key points found in the report include:
- While education construction is down, green has remained a stronghold at 45%, continuing to be the largest opportunity for green building.
- The office market has the largest share of green with 54% in 2012, a bright spot considering the overall expected growth of the sector in the near term.
- Health-related green building labels are taking force in construction specifications, growing more rapidly than any other aspect of green.
- One-third of all home builders in the United States expect to be fully dedicated to building green by 2016.
- Green construction jobs are following the green building market; 35% have green jobs today.
- Eighty percent of executive leaders in corporate America believe the public expects them to engage in sustainability—one of the key forces driving corporations to institutionalize some green efforts. Thirty percent of senior executive officers report that they are greening two-thirds of the buildings in their portfolio—with 47% expecting to do so by 2015.
