Economic Importance of Green Buildings

Abstract

Due to rapidly growing urbanisation, increasing affordability by some sections of people, the overall attitude of financial institutions and other factors, India faces substantial construction activities in all domains, be it residential, commercial, or industrial. As an approximate estimate, nearly forty % of energy consumption is expected to be in the construction of building activities alone. Thus, houses are significant consumers of energy right from operation, construction, and maintenance. Hence it is essential that such policies be implemented, especially in the building sector, to minimise non-renewable energy consumption. In that place, schemes for renewable energy be encouraged and implemented. Hence the concept of green building is gaining very high momentum and popularity, and the government is also providing many incentives for constructing and maintaining green buildings. In this paper, attempts have been made to evaluate the economic importance of green buildings and how the construction of green buildings may reduce environmental costs.