Green Building Could Triple in Five Years: Report

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BOSTON, Mass. -- A new study from McGraw-Hill Construction says the potential for continued growth in the green building market is huge and projects a possible tripling in the value of eco-friendly construction starts to reach as much as $140 billion.

The firm released its 40-page report, "Green Outlook 2009: Trends Driving Change," yesterday on the eve of the Greenbuild International Conference and Expo in Boston. The seventh annual conference of the U.S Green Building Council officially opens today.

The report follows two other highly optimistic reports on the industry from McGraw-Hill in the past two months.

In September, the firm's study "Global Green Building Trends: Market Growth and Perspectives from Around the World" forecast a big jump in growth and profits in green construction worldwide.

Last month, McGraw-Hill released a report that took a look at the residential side of the market. "The Green Home Builder: Navigating for Success in a Down Economy" said green building remains on an upswing despite the down market.

Green Outlook 2009 said the value of green building construction starts has grown  five-fold and rose from $10 billion to an estimated range of $36 billion to $49 billion from 2005 to 2008. In possibly tripling by 2013, the value could attain a range of $96 billion to $140 billion, according to the report.

"Green growth is phenomenal across the globe," Harvey M. Bernstein, McGraw-Hill Construction's vice president of Industry Analytics, Alliances and Strategic Initiatives, said in statement announcing the report. "The business opportunities afforded by green building, even in the midst of a global economic crisis, are real and recognized by industry players."

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