Green construction is moving from a niche to the mainstream. The total value of certified green construction worldwide in 2011 is estimated at nearly $70 billion. According to a new research report from SBI Energy, the market is anticipated to reach almost $150 billion by 2016, and $294 billion by 2021.
More harbingers of this growing industry: Non-residential buildings have the major share in the market at $51 billion in 2011, but green homes currently represent the fastest growing segment of green construction— the market value of LEED certified homes jumped from $39 million in 2007 to $17.15 billion in 2011.
“Interest in joining the green construction market is growing,” notes Shelley Carr, publisher of SBI Energy. “Regulatory instruments, governmental initiatives and financial support mechanisms, together with growing consumer awareness and expectations, all put pressure on construction market participants to adopt more green practices.”
“The role of buildings in energy efficiency policy is expected to grow in the next few years as well, both at the national level and globally,” says Carr. “In addition to addressing environmental concerns, the development of a green construction market also has important socio-economic implications. It is estimated that investments in improved energy efficiency of buildings can generate an additional 2 to 3.5 million green jobs in Europe and the United States alone.”
For more information, visit www.sbireports.com.