New Report: Green Retrofit Market Growing

October 31, 2009

Green building is booming, but new buildings account for less than 2.5 percent of the U.S. building market each year. Retrofits of existing structures, a tremendous market opportunity for green builders, owners, and building product manufacturers, are the focus of McGraw-Hill Construction's Green Building Retrofit and Renovation SmartMarket Report. The report says that green building currently comprises 5 percent to 9 percent of retrofit/renovation market activity and projects that the figure will grow by 20 percent to 30 percent by 2014.

Green building is booming, but new buildings account for less than 2.5 percent of the U.S. building market each year. Retrofits of existing structures, a tremendous market opportunity for green builders, owners, and building product manufacturers, are the focus of McGraw-Hill Construction's Green Building Retrofit and Renovation SmartMarket Report. The report says that green building currently comprises 5 percent to 9 percent of retrofit/renovation market activity and projects that the figure will grow by 20 percent to 30 percent by 2014.

According to the report: owners with green retrofit experience are likely to do more green retrofit projects; 70 percent who have engaged in green renovation activities are planning to continue to do so for over 15 percent of future projects; 24 percent will do so on over 60 percent of projects; and 92 percent report installing more energy-efficient systems. The report also found that 62 percent of owners expect to recoup their investments within 10 years from the savings achieved by their energy-efficient improvements.

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