How LEED is Changing the Face of Construction in The U.S. [Infographic]
Lance Surety Bonds’ newest infographic on the U.S. green building market is out!
With the rise of sustainable construction, the construction market is slowly but surely being transformed. One of the most important factors driving this change is the Leadership in Energy and Environmental Design (LEED) rating system developed by the U.S. Green Building Council (USGBC).
This system, which is now among the most widely used and accepted green building certification systems, both in the U.S. and abroad, offers a complete and comprehensive way for buildings to become certified throughout all of the phases of their life-cycle.
The infographic is based on a number of highly-informative and authoritative sources of data such as the Environmental Protection Agency (EPA), the U.S. Geological Survey (USGC), construction market reports as well as the USGBC itself. Its point is to show how much the green building market has expanded in just 10 years time as well as how necessary this development has been.
With buildings (both residential and nonresidential) accounting for up to 41% of all energy use nationwide, for 73% of all electricity consumption and 38% of all CO2 emissions, the need for sustainability in construction is undeniable.
Luckily, construction companies across the country are adapting to address these challenges. And given that the government is also consistently embracing and recommending green building, the green market is set to grow and expand seriously during the next few years. While green construction bonds have not yet been introduced as a nationwide requirement, it is often the case that a performance bond will include LEED-oriented language, further pushing contractors to evolve and grow.
For example, only 2% of all U.S. nonresidential building starts in 2005 were green. In comparison, between 40% and 48% of all nonresidential building starts in 2015 are expected to be green – a market opportunity of $120-$145 billion.
The residential green building market is also growing increasingly. LEED residential building projects are expected to be about 33% of the whole residential building market by 2016, resulting in a $101 billion market opportunity.
See the full infographic below to find out how LEED is changing the face of construction in the U.S., and what opportunities this offers to those who are willing to go along with the change.