Schools and Universities to Continue Investment in Green Building

According to a new study by McGraw-Hill Construction, both K-12 and universities plan to continue investments in green schools, citing financial and social benefits.

The New & Retrofit Green Schools study shows social benefits, such as improved health and productivity, are critical drivers for the education sector and equally as important as financial drivers.

“Over 75% of respondents consider improving indoor air quality and enhancing health and well being as key drivers, which is nearly the same percentage that cite financial benefits, such as lower operating costs and reduced energy use,” said Harvey Bernstein, vice president, Industry Insights and Alliances for McGraw-Hill Construction. “In the K-12 sector, social factors are particularly prominent, with over 75% of respondents also citing increased student performance as an important element of their decision to build green. Aside from the real benefits to our young people in their development, this is also particularly important at driving future green building growth, as our next generation of construction industry professionals learn practices that will become embedded into the design and construction of all buildings in the future.”

Additional social benefits of green building cited by respondents include:

• Improved test scores;
• Increased enrollment;
• Increased reputation;
• Positive impact on student health and well-being.

The study also shows that cost savings are critically important to the education sector, as they are to all other sectors. Over 75% of respondents in both K-12 and higher education report that reducing energy use, operational savings, and improving 10-year operating costs are important reasons that have led them to build green. Financially, 58% of administrators, facility managers and school design, and construction and real estate staffs at K-12 schools report decreased energy use in their green buildings, and 55% cite lower annual costs. For higher education, the financial benefits equate to 55% of respondents reporting decreased energy use and 46% reporting lower annual costs.

In addition, 81% of the respondents for the K-12 sector report doing at least some new green projects over the last three years, and 84% report doing green renovations.

The need for better measures, more consistently applied, to gauge the impact of green building in the future was also unveiled in the study.

The full report containing these and other results will be published as part of McGraw-Hill Construction’s SmartMarket Report series in the first quarter of 2013.

Click here for more key findings from the New & Retrofit Green Schools study.

Source: McGraw-Hill Construction