Wednesday, December 16, 2009

Green Building Promises Strong Growth

According to a report by McGraw-Hill, domestic green building will triple by 2013. This is expected to trigger $140 billion in construction spending. McGraw-Hill said growing public awareness, government regulations, and bottom-line advantages will help fuel this growth.

A substantial portion of this green building will be retrofits and renovations since many buildings are aging and inefficient.

Green building now comprises 5 percent to 9 percent of the market, but it could easily reach 30 percent ($15 billion in annual spending) within the next five years.


Obama Calls for Home Improvements to Reduce Energy Consumption

On Tuesday, December 15, President Barack Obama spoke about the need for new federal incentives to make millions of homes more energy-efficient.

Obama said this would create jobs, save money for homeowners, and reduce pollution. Obama wants Congress to provide temporary incentives that encourage consumers to purchase items such as insulation, new windows and doors, and caulk to plug leaks.

Obama added that homes and offices are responsible for 40 percent of U.S. energy consumption and homes built in the first half of the last century may use 50 percent more energy than modern homes.