The term “green building” refers to a building process that is environmentally friendly from the time of construction through the time of use. Everything about it, from the way it’s built to how it’s used, encourages environmental stewardship and resource conservation. Sustainable development and conservation of natural resources are the aims of this project. In today’s world, “going green” is not simply a fad; it is a need. Everyone has a role to play in preserving the Earth’s natural resources as global warming progresses.
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More and more businesses are taking environmental concerns seriously, including the real estate industry. A green building certification is one way they demonstrate their commitment to the environment. It’s a big duty to be green building certified. However, there are significant benefits to using them. The following are some of the advantages of obtaining a real estate comprehensive building certification:
Reduced Cost of Operations
Many green building certifications are based on the notion of energy efficiency. Using natural light and air as well as energy-efficient HVAC and ventilation systems is a common feature of green construction projects. Developers may save money on power expenses in the long run by being more smart about window placement, being careful of energy sources and appliances, and developing natural ventilation choices. According to a General Services Administration (GSA) research, green buildings have lower operational expenses than the industry average by 19 percent.
Opportunities for Funding and Tax Credits
Cities and towns around the United States are offering tax incentives and other incentives to encourage developers to build more energy-efficient and environmentally friendly structures. As a result, these benefits might range from tax refunds to tax exempt properties to tax-free green renovations, as well as EPA grants, zoning allowances, and special financing programs. Consider the financial incentives available in the zip code where your project will be located when creating your next project budget.
Benefits to the Structure
Some municipalities, in addition to cash incentives, give structural incentives to projects that satisfy statewide sustainability goals.. Floor area ratio, height and density incentives based on green building certifications are examples of faster approval processes.
Increased Occupancy
Performance-based certifications, such as those for green buildings, are common. To put it another way, after they’ve been certified, a building’s green efforts need to be monitored to make sure they’re having the desired effect. Green facilities tend to have superior occupant ratings for air quality, cleanliness, maintenance, interior lighting, natural light, acoustics, and overall workplace/building satisfaction, despite the long-term commitment required. Higher occupancy rates are a result of lower tenant turnover and a rise in organic referrals, both of which may be attributed to higher ratings.
Increased Rental Costs
Green buildings are more appealing than their traditional counterparts because of their availability of natural light and focus on occupant health. Because of the great demand, property owners are able to charge higher rents to defray the expenditures of the project. Findings from an extensive survey of more than 7,000 commercial buildings in major metropolitan regions show a 2.9 percent rent increase for LEED certified facilities.
Streamlined compliance procedures
For new construction and changes to existing structures, numerous states in the United States have enacted energy efficiency rules in the previous two decades. As an example, in January 2020, California will implement stricter Building Energy Efficiency Standards, which would impact the state’s permitting process. In the absence of adequate preparation and documentation, you run the risk of being overdue and incurring additional costs. When it comes to most building and remodeling projects, time is money. The more time and money you can save by planning ahead, the better.
To achieve comprehensive building certification, it should be a given that the facility must fulfill all state energy use requirements. You can speed state and municipal acceptance of your green certification by documenting building/renovation plans and performance data for your green certification.
Minimize Air Pollution
One of the most important advantages of green building is that it reduces carbon emissions, which has a wide-ranging impact on the environment. Your company’s bottom line and the health of the tenants of your facility are both benefited by greener construction methods, which also reduce local emissions. Compared to national building emission averages, LEED-certified buildings produced 36% less CO2 than non-LEED-certified structures. Committing to green construction projects may have a significant impact because it accounts for 43% of all CO2 emissions in the United States (more than transportation or industry combined). The promotion of such activities may also build favorable brand perception, reinforce brand values and encourage stronger relationships with the local community to the brand’s brand values.
Comprehensive building certification has grown to be an essential tool in the real estate market. Grade standards like this verify and promote environmentally responsible design and building by taking on environmental responsibility themselves. We should expect to see additional Green Building Certification-related developments as the emphasis on “healthy living” and “environmental preservation” shifts. Better tomorrow, better life and a better planet will broaden the notion of ‘well-planned’ and greener communities, states, and nations.