One of the most common questions we hear regarding green construction, is the upfront costs of building green, compared to the long-term savings that are typically achieved. This article discusses these topics.
How cost-competitive are green buildings?
A 2003 study conducted for the California Sustainable Building Task Force shows that an initial increase in upfront costs of approximately 2% for green design will yield lifecycle savings of more than ten times the initial investment, or 20% of total construction costs (based on a conservative estimate of a 20-year building life).
Based on the study’s findings, if $40,000 in green design is initially invested to incorporate green features into a $2 million dollar project, the initial investment is repaid within two years. Over a 20-year period, savings amount to $400,000. This example shows the importance of performing a lifecycle cost analysis of green buildings, rather than simply taking a first-cost view of the green technology investments.
According to the US Green Building Council (USGBC), even the first costs of some green buildings are comparable to or less than prevailing construction prices in their areas, because of resource efficiency and correctly-sized mechanical, electrical, and structural systems. In standard buildings, these systems are often oversized, and therefore more expensive and less efficient.
Green Space Construction Co. is a general contractor and energy efficiency firm in St. Louis with a focus on green building and renovations, weatherization, energy efficiency improvements, as well as traditional building practices. Our core values are composed of eco-friendly building, superior craftsmanship, and dedication to excellent customer satisfaction. Visit our website at GreenSpaceConstruct.com.
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ReplyDeleteMore than just the monetary benefits of having energy-efficient materials, homeowners are certainly guaranteed of long-term benefits in investing on these things where one is the overall experience of quality and comfortable living.
ReplyDeleteI remember when I was making some window replacements back at my home in Canada where I got these amazing Toronto windows which have high energy ratings. I know that I won't be feeling the investment returning instantly but I'm well aware that I've made the right choice for my home and the environment.