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6/11/2012 - Homebuilders see surge in green building

Green construction is becoming a larger part of the market.

The production of green properties has reached new heights, a new report reveals.

The study, which was conducted by McGraw-Hill Construction, found that the green homes' share of the construction market last year was 17%, which translates to about $17 billion overall. If demand for green homes continues, that share is expected to jump to between 29% and 38% of the market, or between $78 and $114 billion.

Building expert Jim Halter indicated that two of the key drivers for more energy-efficient homes are their superior quality and the cost savings property owners will encounter in the long run. Of the builders surveyed, roughly two-thirds said their customers requested a green home to lower their energy use or to save money.

"These findings confirm the shift we've seen in the market," said Halter. "Builders and remodelers are placing more emphasis on energy efficiency, increases in sustainability focused waste management practices and more products made from post-consumer materials. These important factors are pushing our industry forward."

With a focus on sustainability, some insurance providers offer packages that enable policyholders to stay green after experiencing a loss. With Selective's GreenPac® endorsement, Selective can replace damaged or destroyed commercial property with its green or sustainable equivalent following a business insurance claim.

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