Construction of green buildings rose to 325 million square meters of new floor space in 2013, representing a $260 billion market, according to Lux Research.
The Boston-based market research firm says growth has exceeded expectations, as green construction marches toward a significant share of the mainstream market. In the U.S., green buildings command an estimated 20% of new construction.
‘Green buildings are driven not by utility savings, but by upticks in rental income or resale value,’ said Alex Herceg, Lux Research analyst and the lead author of the report. ‘Those factors, along with government incentives, can make the financial case for green buildings, delivering predictable internal rates of return north of five percent.’
More information on the report can be found here.