Consumers, Builders, and Energy Bills Feed the Eco-Building Frenzy
Despite the current national housing slump, one segment of the market is strong and still growing—energy-efficient homes built with green, nontoxic materials. Several forces are driving this expanding demand for green housing, such as consumer awareness, rising energy costs, climate change, the housing industry, and building standards.
Construction industry experts generally agree that the green home market, which was perhaps only $2 billion in 2004, will reach at least $20 billion by 2010, and involve 10-20% of all new construction. Some predict a $40-70 billion market by 2012. Such exponential growth, however, represents only a small fraction of the immense potential to save energy and build with less environmental impact.
The study found that 85% of those currently living in a green home are very pleased with its performance and would recommend that others build green. When asked why they bought a green home, survey respondents cited operational cost savings (90%), environmental concerns (84%), family health (82%), and a potentially higher resale value (73%).
Article by Richard Kujawski
IT PAYS TO THINK GREEN, WHEN INVESTING IN MAUI REAL ESTATE!