AN ANALYSIS OF GREEN BUILDING COSTS USING A MINIMUM COST CONCEPT

2019 ◽  
Vol 14 (1) ◽  
pp. 53-78 ◽  
Author(s):  
Wannawit Taemthong ◽  
Nattasit Chaisaard
Keyword(s):  
Green Building ◽  
Minimum Cost ◽  
Green Buildings ◽  
Site Location ◽  
Gold Silver ◽  
Project Costs ◽  
Actual Degree ◽  
Construction Condition ◽  
Cost Differences

Green buildings are known for yielding a better indoor habitat, saving energy and protecting the environment. However, they require greater investment than conventional buildings. Green buildings can be classified at different levels ranging through certified, silver, gold and platinum. The classification chosen is likely to affect project costs. Adopting a platinum level of green building specifications tends to incur the highest project costs. While with gold, silver and certified levels expenditure will be reduced accordingly. The actual degree of project cost differences also depends on additional factors, such as site location, design specifications, construction condition, material and equipment selection and LEED consultant expertise. Construction budgeting represents a crucial factor for project owners developing green buildings. This research presents a method for determining the minimum project costs of green building developments. The processes and steps to be completed in determining such minimum project costs are presented based on a case study of a learning centre building which received LEED platinum certification. It was found that choosing certified and silver levels has an indifferent effect on project costs, whereas expenditure increases exponentially with gold and platinum levels of certification.

Challenges of Green Office Implementation: A Case Study in Penang, Malaysia

2021 ◽  
Vol 12 (1) ◽  
Author(s):  
Ong Yee Sin ◽  
◽  
Nor'Aini Yusof ◽  
Atasya Osmadi ◽  
◽  
...  
Keyword(s):  
State Government ◽  
Thematic Analysis ◽  
Green Building ◽  
Green Buildings ◽  
Office Buildings ◽  
Structured Interviews ◽  
Policy Makers ◽  
Green Practices

This study was conducted in response to the lack of green office buildings in Malaysia, despite the fact that the green concept has been initiated in Malaysia for many years. The Penang State Government has taken the initiative to establish the Penang Green Council (PGC) as the first state in Malaysia, and the implementation of green offices is one of its programme initiatives. Nonetheless, green offices are still in scarcity across Penang. This study identified the challenges faced in implementing green offices. Data were collected from five green building owners using semi-structured interviews and the data were analysed using thematic analysis. The outcomes revealed that the main challenges faced by green office adoption were lack of budget, lack of awareness, lack of expertise, ownership factor, and type of building. This study offers several implications for practitioners and policy makers to improve the adoption of green office in Malaysia. The results may be applied to raise awareness amongst practitioners and office owners regarding green practices in office buildings. The study outcomes may serve as reference to policy makers on enhancing the development of green buildings.

scholarly journals Understanding the Green Technical Capabilities and Barriers to Green Buildings in Developing Countries: A Case Study of Thailand

2018 ◽  
Vol 10 (10) ◽  
pp. 3585 ◽  
Author(s):  
Wenxin Shen ◽  
Wenzhe Tang ◽  
Atthaset Siripanan ◽  
Zhen Lei ◽  
Colin Duffield ◽  
...  
Keyword(s):  
Developing Countries ◽  
Environmental Sustainability ◽  
Green Building ◽  
Green Buildings ◽  
Green Technology ◽  
Technological Advancement ◽  
Market Demand ◽  
Financial Pressure ◽  
The Government

Green buildings (GB) have been globally adopted for sustainable development by enhancing the resource efficiency, reducing the operation cost, and improving the building environment for users. However, little research has systematically explored the key issues of GB in developing countries. This study has revealed the green technical capabilities and barriers to GB in Thailand from the perspectives of consultants, architects, and engineers, using a questionnaire survey and a case study. The results show experience in meeting the combined requirements of the Leadership in Energy and Environmental Design (LEED) and the green building rating system that Thailand developed in 2010, Thailand’s Rating of Energy and Environmental Sustainability (TREES), and “skilled in energy systems” to be the top two most important green technical capabilities. Barriers to GB mainly arise from financial pressure, technical limitations, and inadequate promotion. “Lack of motivations from owners” and “high initial cost” are ranked as the top two barriers to green building. The results collectively reveal that market demand and technological advancement are fundamental drivers for the GB industry, and the government, economic conditions, education, and corporate social responsibility are the other stimuli for the industry. The findings can help project participants adopt appropriate strategies to boost GB in emerging markets in developing countries. Future policies should focus on increasing market demand, encouraging green technology innovation, and reducing the cost of development and construction of GB.

scholarly journals Life cycle energy analysis of a green building in Vietnam

2022 ◽  
Vol 1212 (1) ◽  
pp. 012004
Author(s):  
D L Le ◽  
T Q Nguyen ◽  
H C Pham
Keyword(s):  
Life Cycle ◽  
Energy Analysis ◽  
Green Building ◽  
Green Buildings ◽  
Convincing Evidence ◽  
Simulation Software ◽  
Embodied Energy ◽  
Operational Energy ◽  
Life Cycle Energy Analysis

Abstract The paper presents the life cycle energy analysis (LCEA) of an office green building in Hanoi, Vietnam to prove the advantages of green buildings regarding energy efficiency and environmental effects. The case study building is a concrete structured one, which consists of 3 basements, 17 floors, and 1 attic with a gross area of 14,112 m2. In the study, the building’s embodied energy is determined based on the contained energy coefficient of the ith material and its quantity needed. Whereas, the operating energy is computed according to the annual energy consumption of the building, which is stimulated by the EnergyPlus simulation software. Relying on the relative share of the demolition energy with the life cycle energy that has been proposed by previous publications, this category will be estimated. Results showed that the initial embodied energy contributed the largest share to the life cycle energy (61.37%), followed by operational energy (27.61%). It also indicated that the percentage share of the operational energy of a green building is much lower than that of other buildings. The primary reason for this is associated with the usage of environmentally friendly materials and energy-saving equipment in the design option of the green building. Therefore, it can be convincing evidence that may help to change the mindset of decision-makers in Vietnam about green buildings.

Green Finance for Sustainable Global Growth

2021 ◽  
pp. 373-393
Author(s):  
Elizabeth Motunrayo Ojo-Fafore ◽  
Clinton Aigbavboa ◽  
Wellington Thwala ◽  
Pretty Remaru
Keyword(s):  
Questionnaire Survey ◽  
Green Building ◽  
Green Buildings ◽  
Long Run ◽  
Green Finance ◽  
The World ◽  
The Cost ◽  
Cost Differences ◽  
Global Growth

Green buildings have become one of the most famous and fastest growing construction concepts. As the world is becoming environmentally viable, all investors and contractual workers will need to know the figures of green financing and if the dangers of contributing are justified regardless of the arrival sum. This chapter aims to compare green building and conventional building using the cost differences and economy impact to ascertain the benefits of green building over the conventional building of green building. Data was collected through questionnaire survey from 50 construction professionals. The result of this chapter shows that green buildings are more expensive than conventional buildings; however, the benefits accrue from green building makes green building cheaper in the long run.

Green Finance for Sustainable Global Growth

2019 ◽  
pp. 244-269
Author(s):  
Elizabeth Motunrayo Ojo-Fafore ◽  
Clinton Aigbavboa ◽  
Wellington Thwala ◽  
Pretty Remaru
Keyword(s):  
Questionnaire Survey ◽  
Green Building ◽  
Green Buildings ◽  
Long Run ◽  
Green Finance ◽  
The World ◽  
The Cost ◽  
Cost Differences ◽  
Global Growth

Green buildings have become one of the most famous and fastest growing construction concepts. As the world is becoming environmentally viable, all investors and contractual workers will need to know the figures of green financing and if the dangers of contributing are justified regardless of the arrival sum. This chapter aims to compare green building and conventional building using the cost differences and economy impact to ascertain the benefits of green building over the conventional building of green building. Data was collected through questionnaire survey from 50 construction professionals. The result of this chapter shows that green buildings are more expensive than conventional buildings; however, the benefits accrue from green building makes green building cheaper in the long run.

A case study on the implementation of green building construction in Gauteng province, South Africa

2020 ◽  
Vol 31 (3) ◽  
pp. 602-623
Author(s):  
Thendo Masia ◽  
Kahilu Kajimo-Shakantu ◽  
Akintayo Opawole
Keyword(s):  
South Africa ◽  
Energy Efficiency ◽  
South African ◽  
Qualitative Data ◽  
Green Building ◽  
Green Buildings ◽  
Water Efficiency ◽  
The South ◽  
Content Type

PurposeGreen building is a relatively new concept with limited applications in property development in South Africa. The objectives of this study are therefore threefold: identify key green building principles considered by property developers, establish the benefits of implementing the principles and determine the barriers to its applications.Design/methodology/approachThe study adopted a case study of two Green Star South Africa (SA)-certified buildings in Sandton, Johannesburg. These are Alexander Forbes building, and Ernst & Young Eris Towers. The two certified buildings were purposefully selected because of the insightful information they provide regarding application of green building principles. The main themes investigated in the cases are environmental awareness, green building principles applications, as well as benefits and barriers of green building. A total of six interviewees from the contractors', property developers', environmental/green building consultants' and sustainability consultants' organizations who were involved in the implementation of green building principles in the two cases provided the qualitative data for the study. The qualitative data were supplemented with data relating to the two case studies obtained from the ‘Earth Works for a Sustainable Built Environment’. The interviews were arranged over a period of two months, and each interview took between 20 and 30 minutes. Analysis of the data was done through a phenomenological interpretation of the qualitative opinions expressed by the interviewees.FindingsKey green building principles comprising energy efficiency, water efficiency, resource efficiency, occupants' health and well-being and sustainable site development were implemented in the two cases. The fact that the buildings were rated 4-star enabled inference to be drawn that the implementation of the principles was less than 60 per cent. Energy efficiency of 35 per cent indicated in Case I suggests that the level is consistent with the South African green building standard of 25 per cent to 50 per cent. However, the energy and water efficiency assessment of the building were based on projections rather than on ongoing monitoring and evaluation of the buildings' performance. Moreover, perceived saving in operational cost was identified as dominant driver to green building principles implementation. Conversely, lack of government incentives and absence of reliable benchmarking data regarding performance of green buildings were major barriers to its full implementation.Practical implicationsThe findings of this study provide important implications to the developers and government on the application of green building principles. In the first place, the evidence that initial high cost premium could be off settled by long- term saving on operational costs as a result of use of local materials, energy and water savings as well as use of recycled material, as implemented in the two case projects, would improve investment decision in green building by developers. The understanding of the drivers and barriers to implementation of green building principles also has implications for guiding government policies and programmes towards green building.Originality/valueThe significance of this study stems from the fact that limited studies, especially in the South African context, have indicated the drivers and barriers to the implementation of green building principles. The case study approach adopted gave a novelty to the study by providing hands-on information from the stakeholders who were known to have played specific roles in the application of green building. The findings indicated that initial high cost premium was not a consideration in developers' choice of green building which justifies the possibility of a costlier product when factors such as environmental sustainability benefit is considered to be ultimate. The study thus suggests further research involving larger cases on energy efficiency, water efficiency and costs of green buildings compared to the conventional type to bring the findings to a broader perspective and assist to benchmark data for green building assessment.

Calculation of Star Proportion of Green Buildings: A Case Study on GM New District

2017 ◽  
Vol 42 (3) ◽  
pp. 125-129
Author(s):  
Ren Hong ◽  
Wang Runyuan ◽  
Du Yongjie
Keyword(s):  
Evaluation Method ◽  
Reference Model ◽  
Green Building ◽  
Green Buildings ◽  
Transformation Model ◽  
System Construction ◽  
Star Program ◽  
Potential Evaluation ◽  
Building Standards

In the context of exploring and implementing China's new urbanization, green eco-city have become a transformation model for urban development. Sharpening green buildings in the construction industry can significantly influence and determine China's economic growth trends, as well as the growth and overall development of its national economy. However, current green eco-city still lack appropriate standards and scientific theoretical basis to determine the target star program of green buildings. To fully implement the green building standards, establish and improve a sound technical standard system for the construction of green building demonstration areas, this study considers the spatial layout of green buildings as the core, adopts a plot potential evaluation method for evaluating a few green building plots, and utilizes four factors in verifying plots with great star potential. The study also establishes a system to calculate the star proportion of green buildings and applies the system in calculating the green building ratio of GM New District. Results indicate that the system can quantitatively analyze a plot potential, calculate the star proportion of green buildings scientifically and rationally, and provide some references for the construction of eco-city and the preparation of special planning for green buildings. The system construction is conducive to provide technical support for the construction of green eco-city. The improved system can be applied in the green building demonstration areas in China, and will be a reference model of constructing green building demonstration areas in the country.

scholarly journals Green Building Concept with The World’s Largest Seismic Isolated Hospital in Turkey

2020 ◽  
Vol 1 (02) ◽  
pp. 8-15
Author(s):  
Kemal Solak
Keyword(s):  
Public Awareness ◽  
Green Building ◽  
Green Buildings ◽  
Assessment Method ◽  
Comparative Approach ◽  
Construction Sector ◽  
Rating Systems ◽  
Sustainable Building ◽  
Leed Certification

Certification systems used to test green buildings have become popular nowadays. In addition, there has been a gradual increase in the involvement of the players in the construction sector and public awareness of sustainability. These systems, which are useful in mitigating the building's environmental impacts, reveal difficulties in their implementation, especially for devoloping countries. Because of the problems affecting the population, such as air pollution and health problems, most world states came together and held conferences to take joint binding decisions. In Turkey, Leadership in Energy and Environmental Design (LEED) is first on the total number of certified green buildings, followed by the Building Research Establishment Environmental Assessment Method (BREEAM) and the German Sustainable Building Council (DGNB). This article summarizes the methodology used by some of these rating methods, shows a comparative approach between these rating systems, and provides an overview of how green building relates to sustainable development practices. Lastly, the building of the hospital was analyzed using  LEED certification system as a case study and the differences in the results were evaluated.

COMPARISON OF BUILDINGS IN ANCIENT TIMES WITH MODERN GREEN BUILDING PRACTICES

2017 ◽  
Vol 4 (1) ◽  
Author(s):  
Elizabeth Sayer ◽  
M. G. Matt Syal ◽  
George Berghorn
Keyword(s):  
Building Materials ◽  
Green Building ◽  
Green Buildings ◽  
Ample Opportunity ◽  
Ancient Times ◽  
Building Designs ◽  
Building Standards ◽  
Insight Into ◽  
Modern Building

Since the focus on sustainable development in 1980s, there has been an increased awareness for well-defined green building standards worldwide. Before the advent of much of the modern green construction standards and practices, ancient European buildings had implemented many features that would be considered green today. Ancient European construction used vernacular architectural, which incorporated climate responsive designs and solar architecture. In some instances, ancient building practices have been used to improve modern building materials, such as brick and concrete. These aspects of green buildings in ancient Europe can provide ample opportunity for research today. The goal of this paper is to analyze building designs, materials, and methods used in ancient Europe and compare these practices to current green building guidelines. The scope of this paper includes examining preexisting literature on building practices in Europe before 1800AD and analyzing two case study buildings in light of LEED green building guidelines. Finally, a comparison matrix of green building features, in ancient European buildings and in modern LEED buildings, is developed. It is hoped that such comparison will provide an insight into the relevance of ancient building attributes in modern green building practices.

Investment appraisal and financial benefits of corporate green buildings: a developing economy case study

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Saurabh Verma ◽  
Satya N. Mandal ◽  
Spenser Robinson ◽  
Deepak Bajaj ◽  
Anupam Saxena
Keyword(s):  
Stock Market ◽  
Market Performance ◽  
Green Building ◽  
Green Buildings ◽  
Content Type ◽  
Developed Economies ◽  
Investment Appraisal ◽  
Financial Benefits ◽  
Stock Market Performance

PurposeThis case study aims to appraise the financial benefits of green building construction in developing countries. The case study presents, green building's positive net present value (NPV) investment in real terms and potentially enhanced stock market returns at the firm level compared to competitors.Design/methodology/approachThe case study examines secondary data on a green building certification and longitudinal operation costs to estimate green building investments' financial benefits. The case study also compares the stock market performance of green building portfolio company with non-green building competitors of similar size and industry.FindingsThe case study finds out that the real return rate on green building investment is higher than the weighted average cost of capital (WACC) of the company with an inflation-adjusted payback period of fewer than ten years. Findings compare favourably to the extant literature which was mostly in developed economies. The paper further highlights that stock market performance for a green building focused company shows improved returns to shareholders relative to non-green competitors.Research limitations/implicationsThe results are specific to the time and building researched; green buildings costs have reduced over time, and a new study may show improved case study findings. The case study results on stock market performance are indicative and may need further research for evaluation.Practical implicationsThe case study presents a model for critical appraisal of green buildings investment. The paper further indicates that green building investment may lead to operational savings and superior stock performance compared to competitors.Originality/valueThe paper presents a green building investment appraisal model which might be useful for the industry and academia. Developing countries have limited literature on green buildings' financial benefits; this case study quantifies the financial benefits and compares them with the available literature related to developed economies’ green buildings.

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