A new study from Dodge Data & Analytics in partnership with the National Association of Home Builders (NAHB) finds that green building is expanding rapidly in both the single- and multifamily sectors.
According to the Green Multifamily and Single Family Homes 2017 SmartMarket Brief, one-third of builders surveyed say green projects make up over 60% of their portfolios. By 2022, it is expected that half of builders will fall into this category.
Almost 30% of the multifamily builders surveyed were labeled “dedicated” green builders, with green projects amounting to over 90% of their portfolios. In contrast, 20% of single-family respondents were considered dedicated green builders, although the researchers predict significant growth in this category.
The SmartMarket research also found that a “considerable number” of single-family and multifamily builders have built net-zero homes or plan to in the future, driven by customer demand as well as competitive advantage. Twenty-three percent of builders have used solar photovoltaic panels, while 43% expect to in the future.
“These findings show that green building has become an established part of the residential construction landscape,” said NAHB chairman Granger MacDonald, in a statement. “It is no longer a niche business; our members recognize the value of building green and are incorporating these elements into their standard business practices.”
According to the study, multifamily builders consider government or utility incentives, customer demand, and changes in codes, ordinances, and regulations to be the top drivers of future green building. The greatest perceived obstacles, according to the multifamily builders surveyed, are higher start-up costs and consumers’ unwillingness to pay more for green construction.
