Sustainable construction has experienced an exponential increase in the last few years, and it soars higher as time passes. Building green homes, shopping centers, government offices, and more isn’t a temporary trend. This phenomenon is an effort to protect the environment in the face of rapidly changing climates.
Companies that use green construction see notable increases in business growth. The three aspects of sustainability — economics, environment, and society — merge to foster successful business development. When organizations adopt sustainability on a company-wide level, they can align themselves with prosperity.
Business Benefits of Green Construction
Green construction brings added revenue, opportunities for new projects, and heightened credibility within the industry. Construction companies that want to construct green buildings can apply for certification, which helps them build authority as sustainable professionals.
The Leadership in Energy and Environmental Design, the National Green Building Standard, and the Green Globes are a few of the many available certifications for sustainable building. Following detailed guidelines enables contractors to create green buildings that uphold eco-friendly claims.
With more certified contractors on the market, landowners can commission more green projects, and construction companies will see a profit increase in return. A survey from the US Green Building Council revealed that respondents expect 60% of their building projects through 2021 to be green-based.
Construction companies aren’t the only ones who benefit from building sustainably. Building owners and homeowners enjoy better energy efficiency and lower maintenance costs. Green construction companies can immediately pass value to their clients.
This is because even though it may take a bigger budget to start a green project, the initial cost leads to a good ROI for the overall upkeep. Sourcing materials locally and applying modular building techniques reduces the construction time for an assignment, which helps owners start earning money faster.
How to Transition to Sustainability
Construction managers can position their companies as allies to sustainable initiatives by practicing energy-efficient techniques and creating resource-conscious facilities. Retrofitting old buildings and signing contracts with eco-friendly suppliers are lucrative ways to start small.
A business claiming to create sustainable products must be green of its own accord. Construction companies will have to re-evaluate and revise internal operations, including investing in green technology and practicing improved waste management strategies.
Most eco-related issues have a range of potential solutions, meaning managers will benefit from researching each one before making a choice. Regular data collection on revenue and project success will help businesses decide if a specific green approach is right for them.
Companies that expand their efforts outward should seek green certification to make themselves desirable to potential clients. If someone wants a sustainable building, they’ll seek out expert builders in that field.
Opportunities for Green Construction Growth
Construction managers should scout for opportunities to take on green projects whenever possible. The federal government offers residential tax credits for many eco-friendly building initiatives, meaning contractors can cover costs by applying for applicable grants. Taking advantage of these incentives makes green building easier for everyone involved.
Renewable energy is growing in popularity among property owners, and it’ll continue increasing due to societal emphasis on reducing emissions. Building wind turbines and solar panels will become high-demand construction jobs — companies should jump on the opportunities early.
People want healthier interiors in both new and existing structures. Individuals want to know more about indoor air quality and green building materials, and they want their buildings to meet health standards.
Retrofits and renovations are great starting points for any builders wanting to join the movement. It’s often cheaper to install green modifications in an existing structure than build a new one.
Doing this also helps reduce pollution and energy consumption — commercial and residential buildings make up 40% of US energy usage. Constructing new sustainable buildings is important, but it’s also essential to modify the ones already standing.
Welcoming a New Decade of Green Building
Companies and contractors are gearing up for innovations in construction — especially on the sustainable front. Transitioning to sustainability will require a comprehensive look at how the industry currently functions.
Supply chain management, waste disposal, and low-energy equipment are becoming more crucial than ever in making the green switch. The industry will see significant gains if more businesses can embrace eco-friendly techniques, which allows for a cleaner future and increased profits.
Holly Welles is a real estate writer who covers the latest market trends in everything from residential to commercial spaces. She is the editor behind her own blog, The Estate Update, and curates more advice on Twitter.