The U.S. green building market is accelerating at a dramatic rate, according to McGraw-Hill Construction’s Green Outlook 2009: Trends Driving Change report released Dec. 1 at the Greenbuild International Conference and Expo in Boston, Mass. The value of green building construction starts increased from $10 billion in 2005 to $36-$49 billion in 2008 and could reach $96-$140 billion by 2013.
Green building’s rapid expansion can likely be attributed to growing public awareness, an increase in government regulations and recognition of bottom-line advantages, according to the report. In addition, the perceived benefits of green building have grown, with operating costs decreasing by 13.6 percent and building values increasing 10.9 percent in 2008.
The report estimated the value of the U.S. green building market over the next five years based on data taken from construction industry surveys, data analysis and analysis of other indicators, including increases in LEED certification and government regulation.