LEED and BREEAM are becoming the standard for the construction industry
While green building certification programs are well-known for their importance in new construction projects, a recent report from Pike Research forecasts that by 2020, nearly half the total certified footprint - 25 billion square feet - will comprise certifications for existing buildings.
Research analyst Eric Bloom, said: “As the new construction market has slowed during the global recession, green building certifications for existing buildings have become an increasing area of focus.
“Green building has remained robust during the recession, and with evidence that real estate is picking up worldwide, green building is poised for even stronger growth in the next few years. In addition, while financing for energy efficient retrofits remains hard to come by in many regions, green building is being bolstered by its ability to differentiate a building in a tough real estate market.”
Mr Bloom adds that although North America has been the clear leader in green building certification to date, Asia Pacific’s green building market is growing quickly, thanks to a number of popular certification programs in China and India.
Certified space in the Asia Pacific region will grow over tenfold between 2010 and 2015, to over 5 billion square feet. Mr Bloom forecasts that this number will exceed 13 billion square feet by 2020.
Pike Research notes that there are dozens of certification programs worldwide, but LEED is and will remain the single largest certification system, covering approximately 22 billion square feet around the world by 2020 and representing over 40 percent of all green-certified space.
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