The U.S. green building market is accelerating at a dramatic pace and could triple by 2013, according to, "Green Outlook 2009: Trends Driving Change," a report released recently by McGraw Hill Construction.
The value of green building starts was up five-fold from 2005, the report says, from $10 billion to $36-49 billion this year, and could be as high as $140 billion in eight years.
The report of green building growth is an island of good news in what has otherwise been a sea of negative economic trends recently. U.S. Green Building Council members say green building is less affected by the down market and that homeowners are willing to pay more for a green home, McGraw Hill reports.
Perceived economic benefits are driving green building, including higher revenues, lower lifecycle costs and lower operating costs, but builders and buyers are also motivated by health benefits, new government regulation and pressure from global competition, according to McGraw Hill.