Green-building Growing, More Jobs, More Buyer Interest
The USGBC writes on its Web site that "buildings in the United States are responsible for 39 percent of CO2 emissions, 40 percent of energy consumption, 13 percent water consumption and 15 percent of Gross Domestic Product per year, making green building a source of significant economic and environmental opportunity." The study found that from 2000 to 2008, $178 billion in gross domestic product was contributed to the economy and 2.4 million direct/indirect and induced jobs were created or saved which generated $123 billion in wages.
"Our goal is for the phrase 'green building' to become obsolete, by making all building and retrofits green -- and transforming every job in our industry into a green job," said Rick Fedrizzi, president, CEO and founding chairman of US Green Building Council.
Fedrizzi says, "This study validates the work that the 25,000 people gathered here at Greenbuild, and every member of our movement, do every day." According to the press release, "The study also assessed the U.S. Green Building Council's 19,000-plus member organizations and found that they generate $2.6 trillion in annual revenue, employ approximately 14 million people, come from 29 industry sectors and include 46 Fortune 100 companies." It further included results from workers including architects, construction laborers, truck drivers—all aspects of the green building industry.
From commercial buildings to residential housing, green building is a growing topic and focus. "Costs for building green are going down," said J.F. Finn III, a principal with Gensler of Nevada, executive architect for MGM Mirage's $8.5 billion CityCenter development. "Companies now have more experience building green, so there are greater efficiencies." The USBGC says more employees are attracted to working in green buildings because of the healthier environment and reduced carbon footprint to help preserve the world. The non-profit reports that studies show that companies with green offices have an easier time recruiting and retaining employees. It further states that, "Today's Generation Y work force actively seeks social-minded employers that reduce their carbon footprints and improve the world around them."
What does all of this mean to the homeowner? Well, if your home has been modified to include some of the more efficient "green" technologies, it could mean a little more green in your wallet at the close of a sale. The same concept that attracts employees to work in green office buildings also attracts them to purchase green homes. Many green-minded buyers are looking to live in a healthy environment, reduce costs, and save the environment.
However, some studies indicate that while green may be gaining in popularity it's still not at the level where buyers will pay a lot more money for it. "Although we are seeing significant interest in green building, cost effectiveness is clearly a key concern among homebuyers," National Association of Home Builders (NAHB) chairman Joe Robson, a home builder and developer in Tulsa, Oklahoma, said in a statement. "Builders said that among buyers who are willing to pay more for green features … 57 percent are unlikely to pay more than an additional 2 percent." NAHB also points out that green building has a regional interest. So, for instance, in the west, water-saving efforts are a high priority when it comes to green building. For a closer look at how to go green read my column, "Going Green May Help Sell Your Home".
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