New and retrofitting green construction contributes to economy

The Environmental Defense Fund recently highlighted the growing economic importance of green building, which is contributing billions of dollars to the economy both through new developments and retrofitting existing buildings.

With a consumption rate equivalent to 40 percent of the country’s energy use, buildings are one area where efficient power use can make a huge difference to the owners’ bottom lines. Seeing the opportunities available, commercial real estate leaders are increasingly opting to build or renovate their properties to be green.

In the next three years, construction projects that are certified under the Leadership in Energy and Environmental Design (LEED) program are expected to inject $303 billion into the economy and save over $1 billion in energy use and $100 million in water use by 2018. Green construction is expected to create 2.3 million jobs this year.

Retrofitting is also adding to green construction’s economic contributions, becoming increasingly popular for those who want to benefit from energy saving and environmental responsibility without completely rebuilding. These upgraded buildings can receive LEED certification and allow their owners to take a more tailored approach to green development.