Green building certifications to cover 53 billion square feet of space by 2020
Green building certification programs are becoming increasinglyimportant tools to verify that a building meets a set of “green”criteria including energy efficiency, sustainable materials selection,site location, and indoor environmental quality.
In addition totheir environmental benefits, certified green buildings can sometimescommand higher property values and rents, and green buildingcertification can distinguish certain properties in highly competitivereal estate markets.
According to a new report from PikeResearch, space covered by green building certification programs willincrease from 6 billion square feet worldwide in 2010 to 53 billionsquare feet by 2020.
“Green building techniques are increasinglybecoming the standard within the architecture and constructionindustries,” says research analyst Eric Bloom. “There are three majordrivers behind green building certifications: environmentalresponsibility, reducing operating expenses through energy efficiency,and regulatory requirements that mandate energy efficiency andcertifications.”
Bloom adds that by 2020, about 80 percent ofgreen-certified building space will be in the commercial buildingsector, up from 73 percent today. Within the commercial segment, themajority of green certifications will go to existing buildings asopposed to new construction. In contrast, most of the focus in theresidential market is on green certification of new properties.
In addition to the well-known Leadership in Energy and EnvironmentalDesign (LEED) program in the United States and the Building ResearchEstablishment Environmental Assessment Method (BREEAM) program in theUnited Kingdom, there are more than 20 established green buildingcouncils around the world, with more than 40 other national-scale groups seeking similar status in the next few years.
While LEED andBREEAM will continue to dominate the North American and European greenbuilding markets, respectively, Pike Research anticipates that newlydeveloped programs in China and India will represent about 30 percent of all certified green new construction by 2020.
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