Although "Saving the Planet" is a noble concept, and rightfully so, many people choose the "green" real estate option because of the other "green": Money.
According to a report released by Morgan Stanley's Institute for Sustainable Investing, sustainable technology can shave off 3% to 30% of a typical office buildings annual expenses. For a business, that can add up to a whole lotta green! Depending on the city, the utility savings alone can appear in the billions in asset value.
Let's take San Francisco, California, for instance. The potential savings in four of the major cost areas (waste, repairs, utilities and insurance) from sustainable building practices for a 250,000 sf building is approximately $213,020.00, with an added asset value of $14.1 million or $56.55 per sf!
On the flip side, many critics are not ready to spend the higher upfront costs for sustainable building materials. However, as the years go by, these building materials have considerably gone down in price, which has made sustainable building not only a cost saver in the long run, but quite feasible right from the start.
The government incentives on sustainable building also can produce more "green", in the form of rebates, tax credits, etc. To check which incentives and programs are offered by the Government visit dsireusa.org. The website is organized by state, so that business owners can find what they qualify for efficiently.
If you are just starting the building process and considering going green or if you are considering transitioning to sustainable living, the money you can save is well worth the effort. Not to mention showing your potential customers that you care for the environment, which can only resonate with them in a positive way.