Green Work Growing

Going green is a growing trend in homebuilding that doesn't show any sign of wilting.

Green homes accounted for 17 percent of the overall residential construction market in 2011, according to a new Green Home Builders and Remodelers Study released by McGraw-Hill Construction. The study also predicts green construction to grow to between 29 percent and 38 percent of the residential-construction market by 2016. By value, this would be a five-fold increase from $17 billion in 2011 to between $87 billion and $114 billion.

According to he study, construction-industry pros report an even larger increase in green remodeling. Remodelers expect to be doing mostly green work by 2016, a 150-percent increase over 2011.

Due to the huge drop in home construction during the Great Recession many homebuilders have segued into the remodeling market. Of the builders who do both new and remodeling work, 62 percent say the economy has increased the amount of work they're doing.

The study shows construction pros are seeing the benefit in green building. Forty-six percent of remodelers and builders say "building green" makes it easier to market themselves in a stagnant economy; 61 percent of builders and 66 percent of remodelers also say buyers will pay more for green homes.

By 2016, builders anticipate they will be dedicated to green-building work on more than 90 percent of projects; 33 percent expect to be dedicated to green work in 2016, up from 17 percent in 2011. As for remodeling growth, 22 percent of remodelers say they will be dedicated to green work in 2016, nearly triple the 8 percent who report being dedicated to green jobs in 2011.