The green homes market is expected to increase in value five-fold by 2016, as this would represent a rise on the already significant $17 billion industry that exists today, according to a new McGraw-Hill construction study.
The study noted that green homes comprised 17 percent of the overall residential construction market in 2011 and are expected to grow between 29 percent and 38 percent of the market by 2016.
According to the study, the practice of green building provides a market advantage for builders and remodelers, as technology that both helps the environment and limits long-term costs is something that many homeowners favor in their residence.
"Home buyers and builders increasingly want to do what's right for the environment," said Jim Halter, VP for Construction Solutions, Waste Management. "This trend has been taking off within our business as customers look to recycle and divert more materials from landfills. We're excited to see the results of the study; they validate the services we offer."
The addition of green and sustainable products to a home helps to increase the value of the residence, while also affecting the operating costs for a homeowner. Installing technology like a Warmboard radiant heating system will help to make the residence more attractive to a prospective buyer.
This is due to the lowered energy costs, increased level of comfort, smaller carbon footprint and the potential adherence to the latest interior design trends that the heating system provides.
A Warmboard heating system lowers the operating costs for a homeowner because of the highly conductive aluminum tubing that is used in the product, as it is more efficient in its delivery of heat to a residence. Lower water temperatures can be used to provide the same level of heat as other systems.