It's Fun Being Green Green Amenities Grow as Demand Increases

 It many circles it’s considered socially or politically correct to “go green” when embarking on new construction projects or updating an existing property.  Cost-saving initiatives include solar roofs, energy-efficient lighting and  appliances. With these inherent benefits, boards and managing agents are  expressing interest in all things green, which is in line with New York’s celebrated sustainable reputation.  

 In January 2013, the United States Green Building Council (USGBC) announced that  New York was ranked seventh in the nation in new Leadership in Energy and  Environmental Design (LEED) certifications in 2012, moving three spots up from  its No. 10 spot in 2011. The annual study ranks states based on the amount of  LEED-certified space per capita. With 34.4 million square feet of  LEED-certified space, New York certified 1.77 square feet per resident.  

 The State of the Industry  

 While the ripples from the recent recession are still being realized in many  industries, green building was a subset of the construction industry that  sustained the least fallout. It is true from 2008 to 2010 there was a grounding  of related projects, but in the last few years a steady increase of job orders  is being filled. For example, IBISWorld released a report last year, “Sustainable Building Material Manufacturing in the US,” which projected an average sector growth of 7.3 percent per year over the next  five years.  

 Precision Paragon, a commercial lighting manufacturer, also released a report  last year finding that the energy-efficient lighting market experienced steady  growth in 2012. It is predicted that LED-based illumination lighting will make  up five percent of the indoor lighting market within the next three years. This  growth is due, in part, to governmental regulations.  

 The Energy Independence and Security Act of 2007 requires a 25 percent increase  in the energy efficiency of light bulbs, which places a stranglehold on those  manufacturers that are unable to increase incandescent bulb efficiency by such  a large percentage. As of January 2012, 100-watt incandescent light bulbs that  fail to meet the new efficiency standard are prohibited. This January, the law  was modified to include 75-watt bulbs. Next January, 60-watt and 40-watt  incandescent bulbs will also be subject to this law.  

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