The total value of certified green construction worldwide in 2011 is estimated at nearly $70 billion, according to a new report from industrial and energy market research publisher SBI Energy.
SBI Energy anticipates the global green construction market will reach almost $150 billion by 2016, and $294 billion by 2021. Nonresidential buildings recorded 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 homes that received Leadership in Energy and Environmental Design certification jumped from $39 million in 2007 to $17.15 billion in 2011.
‘Interest in joining the green construction market is growing,’ says 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.
‘In addition to addressing environmental concerns,’ Carr adds, ‘the development of a green construction market also has important socioeconomic implications. It is estimated that investments in improved energy efficiency of buildings can generate an additional 2 million to 3.5 million green jobs in Europe and the U.S. alone.’