An Increase in Green Construction is Great for the US Economy Posted on September 9, 2016June 23, 2021 by Kyle Christensen Recent studies have shown green construction in the U.S. is not only growing, but is helping the economy thrive as well. The 2015 Green Building Economic Impact Study, conducted by Booz Allen Hamilton for the U.S. Green Building Council, predicted green construction will directly contribute to 1.1 million jobs and $75.6 billion in wages by 2018. Leadership in Energy and Environmental Design (LEED), a nationally accepted organization that certifies green buildings, plays a large role in this growth. LEED will be responsible for 386,000 jobs and $26.2 billion in wages by 2018. The study predicted that LEED will directly contribute $29.8 billion to the GDP by 2018. Green homes and commercial buildings are becoming increasingly appealing to the U.S. consumer due to the long-term energy savings they offer. USGBC reported the two largest factors spurring the green building movement are client and market demand. Building owners and managers plan to continue increasing investments in green initiatives—whether through updating current structures or constructing new green buildings. Green Construction for Residential Homes The Green Multifamily and Single Family Homes report by McGraw Hill Construction reported 62 percent of builders who work on single-family homes said more than 15 percent of their projects are green and by 2018, 84 percent will be. For multifamily projects, 54 percent of builders say 15 percent or more of their projects are green and 79 percent of projects will be green by 2018. It is no surprise demand for green homes is rising. According to the USGBC, depending on the level of certification, an LEED-certified home could experience energy reductions at rates of 30 percent to 60 percent. That can add up to thousands of dollars in long-term savings on utility bills. On the whole, new construction homes tend to be more efficient than older homes as they increasingly have green fixtures built into them. NewHomeSource’s new construction consumer advocacy group, Start Fresh. Buy New., reported new construction homes are 30 percent more efficient than 10-year-old homes and save an average of 3,449 kilowatt hours per year of electricity. With its live savings tracker, Start Fresh. Buy New. estimates that so far this year, homeowners who do not live in new construction homes have spent about $383 million more on maintenance and repairs than new construction homeowners. Green Construction for Institutional Buildings A recent survey of construction companies conducted by the United Technologies Corp. has declared the U.S. a global leader in green institutional construction, defining “institutions” as public buildings, schools, hospitals and more. According to the survey, 46 percent of U.S. participants plan to work on a new green institutional project in the next three years and 43 percent believe they will work on making green updates to current buildings in that time. Globally, 38 percent and 37 percent, respectively, plan to do the same. The survey reported that green buildings, whether newly built or updated, experience a median value increase of 7 percent. Green construction helps the economy on both a national and state level. The Booz Allen Hamilton study explained that by creating jobs, contributing to the GDP and lowering utility bills for both commercial users and homeowners, it helps the U.S. save billions of dollars on energy and millions of dollars on water, maintenance and waste. Read more: Congress Continues to Incentivize Going Green Helping Your Customers: All About Utility Rebates Government Incentives for Going Green Construction: OSHA Proposes Specific Safety Guidelines OSHA Establishes New Confined Space Construction Standards 3 Types of Motion Sensors for Construction The Rise of Green Construction: A $114 Billion Market by 2016 E-commerce offerings: (Contact a Customer Service Representative for additional selections, options, and solutions) LED Street/Roadway LED Emergency/Exit LED Recessed Downlights LED Fixtures LED Drivers LED Lamps Wiring Devices and Lighting Controls Call and let us help meet all of your product and solution needs (1-866-483-7289). Did you know that any customer is eligible for online ordering? All you need to do is fill out this online form. Key benefits include: Order anytime, 24/7, 365 days a year. If you can connect, you can place an order. Create custom templates, aka “My Lists.” Reduce search time, click, order, done. Track purchase history and view your account information. You can review invoices any time, track purchase history, and print or download records.
