1.4 Green Building Research

The Numbers	No. of LEED-certified homes nationwide: More than 2,000, about 11,000 in the pipeline. No. of Energy Star qualified home nationwide: 750,000 as of early 2007 No. of NAHB green-certified homes nationwide: n/a
Date	Report, Study or Article
March 31, 2009	Press Release: Doing Well by Doing Good? An analysis of the financial performance of green office buildings in the USA From RICS Buildings in the US with a high Energy Star rating are attracting rental premiums of three percent per square foot compared with non-green buildings of the same size, location and function, according to new research commissioned by RICS (Royal Institution of Chartered Surveyors). The research “Doing Well by Doing Good?”  provides the first credible evidence on the economic value of the certification of “green buildings” in the commercial sector and concludes that there is a premium of three percent for the rents that ‘green’ buildings with the Energy Star rating can command. Read full press release
March 30, 2009	Report: Doing Well by Doing Good? An analysis of the financial performance of green office buildings in the USA By Piet Eichholtz and Nils Kok of the University of Maastricht and John Quigley of the University of California, Berkeley Read report in PDF
October 2008	Research: Perspectives on Sustainability: Results of the 2008 Global Survey on Corporate Real Estate and Sustainability From Jones Lang LaSalle and CoreNet Global The recent survey, now in its second year, shows greater demand for green buildings but fewer companies willing to pay extra than in 2007.  Click below to read a summary of the survey findings. Read report
July 8, 2008	Report: Does Green Pay Off? By Norm Miller, Jay Spivey and Andy Florance Executive Summary:  In this study and call for further research we provide some comparison data on Energy Star and LEED-certified buildings versus non-Energy Star or non-LEED-certified office property from the entire U.S. using CoStar database. These results are promising for the benefits of investment in sustainable real estate, energy savings and for the green movement now sweeping our society. The payoff from wise green investment is easy to justify even if based on purely profit motivations. Read report in PDF   Above: Charts from “Does Green Pay Off?” report
March 26, 2008	Article: CoStar Study Finds Energy Star, LEED Buildings Outperform Peers By Andrew C. Burr A new study by CoStar Group has found that sustainable "green" buildings outperform their non-green peer assets in key areas such as occupancy, sale price and rental rates, sometimes by wide margins. Read full article
June 2008	Report: Quantifying "Green" Value: Assessing the Applicability of the CoStar Studies From Green Building Finance Corp. The purpose of this report is to provide guidance to the real estate industry on the interpretation and use of data and research supporting green building investment. To better understand the role of quantitative studies within the broader decision-making context for sustainable property investments, this report provides an independent critique of the methods, technical execution, and presentation of the findings of a recent CoStar Group study evaluating the financial performance of Energy Star and LEED (Leadership in Energy and Environmental Design) certified buildings. Access full report
Nov. 18, 2008	Press Release: Green Building Could Triple by 2013, Says McGraw-Hill Construction Green Outlook Report tracks dramatic growth, forecasts green building over next five years See full press release
Nov. 19, 2008	Green Building Impact Report Executive summary: Green buildings, as represented by the U.S. Green Building Council's Leadership in Energy and Environmental Design (LEED) Green Building Rating System, are an undisputed market success. In the eight years since the launch of LEED, green has firmly established itself among mainstream leaders in the building sector, representing tens of billions of dollars in value put in place and materials sales. LEED was created to reduce the environmental impacts of the built environment, but so far no comprehensive evaluation of the overall impact of LEED has been conducted. Until now. More Read the whole report
More reports of interest	More reports, as listed on the US Green Building Council website: How Green a Recession? – Sustainability Prospects in the US Real Estate Industry January 2009, RREEF Research This report examines the status of green building with respect to the current economic downturn and dropping energy prices. The findings show that even under these conditions, the case for green real estate remains strong and opportunities for cash-rich investors to add green buildings their portfolios may emerge. Globalization and Global Greening Trends in Green Real Estate Investment September 2008, RREEF Research This report examines the forces affecting property sustainability in major regions around the globe.  The study found that major corporate tenants are pursuing greener facilities worldwide.  However, a gap exists between available green building space and tenant demand, creating green building investment, particularly in the United States.      The Greening of U.S. Investment Real Estate – Market Fundamentals, Prospects and Opportunities November 2007, RREEF Research This paper explores why the U.S. institutional investment real estate sector is likely to embrace sustainable building principles. The paper also documents trends in green building and focuses on the key drivers for green building investment – as well as the barriers that have limited this investment up to now.   Green Listed Real Estate: A Growing Global Trend October 2007, Innovest Innovest analysis shows that the REITs in the U.S. considered to have the highest green credentials outperformed the index over several years. However, while awareness of the environmental risks and opportunities is growing, there is a gap in the degree to which real estate companies are implementing strategies to address risks.    Federal Leadership by Example on Energy Conservation: No-Cost Quick and Easy Steps for Immediate Results July 2007, Walraven, B., USAA Real Estate Company This testimony before a Hearing of the U.S. House of Representatives is about the commitment made by the real estate sector in the U.S. to reduce energy consumption. Ms. Walraven's testimony includes estimates of the financial benefits from low- and no-cost energy efficiency retrofits.   The Energy Challenge, a New Agenda for Corporate Real Estate April 2007, Rocky Mountain Institute & CoreNet Global This report describes and recommends energy efficiency action plans that will result in very large energy and cost savings for corporate real estate and service providers.   To Be Green or Not to Be Green? Why that is Not the Question? 2007, Prudential Real Estate Investors This report discusses how tenant demand, decreasing costs associated with building green and risk management are influencing the extent to which real estate investors and developers are building green.