LEED certification: Silver, Gold, and Platinum- does it add any real value to a commercial construction project? LEED stands for Leadership in Energy and Environmental Design and is the most widely used green building rating system in the world. Developed by the United States Green Building Council, LEED seeks to reward the design, construction, maintenance, and operation of buildings that meet standards for sustainability, performance, health, and resource efficiency.
LEED certifies over 1.85 million square feet of construction space daily, and as such, has become known as the benchmark of excellence in sustainable design and construction. Both industry professionals and consumers know LEED certification means quality, sustainability, and energy savings.
LEED boasts benefits to people, planet and profit. These profits include increased building value, higher lease rates, and decreased utility costs. By 2018 LEED certified buildings will contribute over 29.8 billion to the US economy. Value in green building accrues in two ways:
1. Sustainable design increases a building’s value up front, with an estimated 4% increase in estimated value yearly.
2. Maintenance costs for green buildings are estimated at 20% lower.
The actual cost to build green is competitive with traditional means of design and construction, with an estimated premium of only 1-3 %, which can be paid back by energy savings in as little as a year. The application process for LEED certification for commercial projects, including campus buildings, is detailed on the US Green Building Council website.
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