EL Insights Predicts Significant Growth Within the Green Construction Industry

A recent issue of EL Insights reports that the growing trend among businesses toward developing and implementing eco-friendly changes is more than just a passing fad. In fact, the experts at EL Insights predict that the value of the U.S. green building market will grow extensively over the next several years.

More specifically, EL Insights believe the U.S. green building market will grow from an impressive value of $71.1 billion to draw dropping value of $173 billion by the year 2015. Similarly, the commercial green building sector – which is defined as construction of buildings with both resource use and employee productivity as the major focus – is expected to grow by about 18.1% each year, representing a projected growth from $35.6 billion to $81.8 billion by 2015.

The projected growth is expected for a number of reasons, some of these including:

• A growing recognition among homeowners and business owners of the potential cost-savings involved with green construction
• Government incentives that encourage green construction, including the Sustainable Communities Regional Planning Grant program and the Sustainable Communities Challenge Planning Grant
• Government projects, such as the Recovery through Retrofit initiative, which calls for $80 billion worth of environmental and energy retrofits for federal structures

EL Insights reports that the growth within the green building sector will translate into good news for the building market in general. As construction workers seek to expand their offerings, a growing number are expected to seek out green training opportunities. Furthermore, a growing number of companies are expected to invest more money into green building technology. Already, GE has launched its $10 billion ecomagination initiative, which calls for an extensive amount of green-focused research and development over the next five years. Green-friendly homes are also expected to continue to fare better on the real estate market as homeowners seek out ways to reduce their impact on the environment while also reducing their heating and energy bills.

Given the predicted future of the green construction industry, construction workers, homeowners and real estate experts would all benefit from paying even more attention to the U.S. Green Building Council. With the help of this non-profit council, anyone interested in delving into eco-friendly construction initiatives can learn quite a bit about green building as well as how to obtain LEED certification. By reading the studies and learning from the information provided by the U.S. Green Building Council, those interested in green construction can be sure to implement the best measures for helping the environment while also increasing the value of a structure and reducing the costs of using and maintaining it.

Brian Kinkade is a broker and team lead with Brokers Guild – Cherry Creek Ltd, a full service Denver real estate firm. His team specializes in Denver luxury homes, equestrian property, and International real estate sales.