Green buildings have become more popular and important in the past several decades to slow down the effects of climate change. The green building movement is growing significantly for its advantages, such as less water and energy consumption, conserving natural resources, optimizing operations, and generating less wastage. The green buildings also help occupants provide comfort and health by using high sanitation and environmental quality materials.
As per the World Green Building Council report, green buildings ensure approximately 25 to 35% energy savings and 39% water savings compared to conventional buildings. They use biodegradable materials, water efficiency techniques, and solar power for heating, ventilation, air conditioning, green insulation, and cool roofs.
Shifting consumer focus towards a healthier environment provides growth opportunities for green buildings. The builders and construction teams are actively seeking green building certification that can act as a marketing tool to reach prospective tenants and investors. There are numerous certifications to evaluate a green building, including Leadership in Energy and Environmental Design (LEED), Energy Star, The Building Research Establishment Environmental Assessment Method (BREEAM), Green Globes, National Green Building Standard (NGBS), GreenGuard, Well Building Standard, NABERS, Green Star, and Comprehensive Assessment System for Built Environment Efficiency (CASBEE).
The future of green building technology looks promising with plenty of opportunities, including air-cleaning materials, micro-grids, smart glass, electricity-generating glass, and net zero buildings. The technologies are explained in detail below:
Despite the benefits of green building technologies, still, the industry is struggling for a consistent future. The major challenges of green buildings are high costs and lack of awareness among the majority population. The high initial design and construction costs are hindering the industry growth to an extent. However, governments of various countries taking initiatives to achieve Net Zero goals in the construction sector are propelling the market revenue growth of green buildings. In addition, real estate developers are also focusing on energy and water saving due to increased environmental, social, and governance standards.
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