The State of Green Building
In anticipation of GreenBuild, Green Building Law Update is going to step back and ask: what is the state of green building?
These are definitely interesting times for the green building industry. On the one hand, as I have highlighted, green building projects may have to be shelved due to the tight lending market. But making conclusions based on a snapshot of the current green building industry is short-sighted. Prior to the economic crisis, we were in the middle of a “green revolution” and the revolution will continue when we emerge from the slumping economy.
I am not the only one voicing these long-term positive expectations for green building:
"The state of the art will be green," said Block, partner at Tannenbaum Helpern Syracuse & Hirschtritt LLP. "There’s no question about that." Block pointed out that as part of their more stringent standards, lenders will insist on the-state-of-the-art when it comes to financing new construction. Moreover, government is leading the way in mandating green standards, he added.
If the state of the art is going to be green, maybe it’s time you learn about green building. Stick with Green Building Law Update and we will lead you through the “green revolution.”
Related Links
- Panel: Green Revolution Is Already Here (GlobeSt.com)
- The Google Delays Green Building Project (GBLU)
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Come hear construction, design and surety experts speak about emerging green building litigation and risks:
Green Building: Opportunity or Legal Quagmire?
I think the trends are pretty clear, despite a temporary downturn in green building due to the current economy, green building is the way of the future. Even Google who has temporarily delayed plans for their new building has not given up on the project. An interesting look at what is occurring in Dubai seems to lend support to green building being the way of the future. Dubai which has seen explosive growth in the last decade now requires all new buildings to be built to green standards, and the numerous lessons being learned there through the building on some of the world's most advanced buildings both architecturally as well as technologically bodes well for the future of green building both in the United States as well as abroad.
While short term challenges to the green building industry look to be inevitable at this time, and while declining oil prices are certainly diminishing the incentive to save energy, the events of this past year have served as a wake up call to many that it is time to take action and make our future one where sustainable technology and energy efficiency are the general rule rather than the exception.
I firmly believe in the next decade America and the world will see a transformation in construction and building technology that has not been seen since the end of World War II. While green building may be in its infancy, its "teenage" years are right around the corner and much like an adolescent entering puberty I believe the industry is about to experience exponential growth.
I look forward to hearing about your experience at GreenBuild, please keep all of us not fortunate enough to attend in the loop.