Green Building Grows Despite Construction Downturn

A special report titled “Green Outlook 2011,” published by McGraw-Hill Construction, points to green buildings as one of construction’s fastest-growing sectors. Starts increased 50% from 2008 to 2010. This year, MHC estimates green buildings will account for a third of all new non-residential construction, totaling $54 billion in starts. “This growth would be notable under any circumstances, but [it] is particularly dramatic given the decline in overall construction during the same period,” says MHC. It predicts that, by 2015, non-residential green building markets will nearly triple, growing to between $120 billion and $145 billion. It predicts the retrofit and renovation green-building market will increase to $18 billion by 2015 from an estimated $5 billion this year.