Friday, March 22, 2013
Green Buildings Drive Business and Generate Profit
We all know that green buildings are nice. Its concrete benefits to its occupants have been proven. Generally, people who stay in green buildings are more productive, and satisfied than in other buildings. But is it profitable as well?
A recent study answers in the positive. The study was a joint effort between United Technologies, maker of Carrier air-conditioners and Otis Elevators, entitled “World Green Building Trends.”
Back in 2008, respondents said that the main motivator behind their green building project is the fact that “it’s the right thing”. This is no longer the primary moving factor in 2012, where the reason is business: respondents state that client and market demand are the main reasons for the popularity of green buildings. In other words, profit.
The profit-making opportunities are manifold. 76% of the respondents state that having a green building lowers expenses and operating costs. 38% said that a green building results in a higher market value and quality assurance. 36% undertake green buildings for future-proofing.
The profit is not limited to green building owners alone. It has also resulted in more work demand for the construction labor sector. Even construction product manufacturers have delved into the business of setting up contracts that will promote green benefits.
The study further showed that businesses across industries are moving towards green buildings. Around 51% of the respondents have green building projects in the pipeline, while 60% will undertake more projects by 2015. This is a huge improvement: in a previous study, only 28% said that they will have more green building projects put up by 2013, and only 13% said they plan on putting up green buildings by 2008.
This is yet another positive proof that green buildings are the future of the industry. Now with its profit-generating feature, building owners have yet another compelling reason to retrofit or put up a green building.