Green building certifications to cover 53 billion square feet of space by 2020

USA: Green building certification programs are becoming increasingly important tools to verify that a building meets a set of “green” criteria including energy efficiency, sustainable materials selection, site location, and indoor environmental quality.

In addition to their environmental benefits, certified green buildings can sometimes command higher property values and rents, and green building certification can distinguish certain properties in highly competitive real estate markets.

According to a new report from Pike Research, space covered by green building certification programs will increase from 6 billion square feet worldwide in 2010 to 53 billion square feet by 2020.

“Green building techniques are increasingly becoming the standard within the architecture and construction industries,” says research analyst Eric Bloom. “There are three major drivers behind green building certifications: environmental responsibility, reducing operating expenses through energy efficiency, and regulatory requirements that mandate energy efficiency and certifications.”

Bloom adds that by 2020, about 80 percent of green-certified building space will be in the commercial building sector, up from 73 percent today. Within the commercial segment, the majority of green certifications will go to existing buildings as opposed to new construction. In contrast, most of the focus in the residential market is on green certification of new properties.

In addition to the well-known Leadership in Energy and Environmental Design (LEED) program in the United States and the Building Research Establishment Environmental Assessment Method (BREEAM) program in the United Kingdom, there are more than 20 established green building councils around the world, with more than 40 other national-scale groups seeking similar status in the next few years.

While LEED and BREEAM will continue to dominate the North American and European green building markets, respectively, Pike Research anticipates that newly developed programs in China and India will represent about 30 percent of all certified green new construction by 2020.