As the world continues to grapple with environmental challenges, the construction industry has taken center stage in addressing these issues. The concept of Green Building has gained significant momentum in recent years, and for good reason. Not only does it promote environmental sustainability, but it also offers numerous benefits for builders, occupants, and the planet as a whole.
Benefits of Green Building: A Sustainable Approach
Green Building practices are rooted in creating structures that minimize their impact on the environment while promoting the well-being of those who inhabit them. Some of the key benefits of Green Building include:
Energy Efficiency:
One of the primary goals of Green Building is to enhance energy efficiency. Through innovative designs and the integration of advanced technologies, buildings can significantly reduce energy consumption, leading to lower operational costs and a smaller carbon footprint.
Sustainable Materials:
The use of sustainable materials is another key aspect of Green Building. Builders are increasingly turning to renewable or recycled resources like bamboo, wool, and cork to construct eco-friendly structures that minimize resource depletion.
Water Conservation:
Green Buildings are designed to optimize water usage through efficient plumbing systems, rainwater harvesting, and water recycling. Such practices help conserve precious water resources and reduce strain on local water supplies.
Improved Indoor Air Quality:
Green Buildings prioritize indoor air quality by selecting low-emission materials and incorporating proper ventilation systems. This leads to healthier living and working environments, reducing the risk of respiratory issues and other health problems.
Waste Reduction:
A sustainable approach to construction entails minimizing waste generation and promoting recycling. Green Building projects prioritize waste reduction, ensuring that materials are used efficiently, and construction debris is recycled wherever possible.
Current Trends in Green Building
Green Building is an ever-evolving field, and staying up-to-date with the latest trends is crucial for builders and architects committed to sustainability. Here are some of the emerging trends in Green Building for 2023:
Net-Zero Energy Buildings:
Net-zero energy buildings generate as much energy as they consume. They achieve this by combining highly energy-efficient designs with renewable energy systems, such as solar panels and wind turbines.
Biophilic Design:
Biophilic design aims to connect building occupants with nature by incorporating natural elements like plants, natural light, and water features into the built environment. This trend has proven to enhance well-being, productivity, and creativity.
Smart Building Technologies:
The integration of smart technologies allows buildings to optimize energy consumption, lighting, and climate control based on real-time data. Smart buildings enhance energy efficiency and offer a more responsive and comfortable environment for occupants.
Circular Economy Principles:
Adopting circular economy principles means designing buildings with a focus on reusability and longevity. This approach encourages the refurbishment and repurposing of materials and components, reducing waste and resource consumption.
Tips for Implementing Green Building Practices
For builders and architects looking to embrace Green Building, here are some practical tips for successful implementation:
Collaborate and Educate:
Green Building requires a collaborative effort from the entire project team. Ensure that everyone involved, including contractors and subcontractors, understands the goals and benefits of sustainability.
Set Clear Sustainability Goals:
Establish clear sustainability goals from the outset of the project. Define key performance indicators (KPIs) for energy efficiency, material usage, and waste reduction, and track progress throughout the construction process.
Stay Informed about Incentives:
Research local and national tax incentives and rebates for sustainable building practices. The availability of such incentives can make a significant difference in the project’s overall cost and viability.
Adopt Green Certifications:
Consider obtaining green building certifications such as LEED (Leadership in Energy and Environmental Design) or BREEAM (Building Research Establishment Environmental Assessment Method) to demonstrate your commitment to sustainability and attract environmentally-conscious clients.
Monitor and Optimize:
After the building is completed, regularly monitor its performance and energy usage. Implement ongoing optimizations to ensure the building continues to operate at peak efficiency.
Tax Incentives for Green Building
Apart from the intrinsic benefits, there are also tax incentives available to encourage Green Building practices. By adopting sustainable construction methods, builders and architects may be eligible for various tax credits and deductions. These incentives vary by location and may include tax credits for energy-efficient building components, renewable energy systems, and sustainable design features.
Conclusion
Green Building practices are no longer just a trend but a necessity for the construction industry. Builders and architects hold the key to a more sustainable future by adopting energy-efficient designs, using sustainable materials, conserving water, and prioritizing indoor air quality. With the numerous benefits it offers, including reduced operational costs, improved occupant health, and a positive environmental impact, Green Building is undoubtedly the way forward.
By embracing current trends, implementing practical tips, and capitalizing on available tax incentives, builders and architects can spearhead the movement towards a greener and more sustainable construction landscape, contributing to a healthier planet for generations to come.
Tax credit LINKS
(CLICK THE UNDERLINED TEXT FOR LINK)
Business Council of Westchester (CW BCM) Program
Offers a 20% discount towards green business certification, providing financial support for sustainable development in business.
Con Edison Commercial and Industrial Energy Efficiency (CIEE) Program
Provides cash rebates and incentives for energy efficiency projects, including energy-efficient equipment installations.
New York State Pollution Prevention Institute (NYSP21)
Offers online assistance, process evaluation, audits, and pollution prevention strategies to improve business sustainability, with funding covering a significant subsidy of the service costs.
NYC’s Retrofit Accelerator Program
Provides no-cost technical assistance and advisory services to help building owners accelerate retrofit processes, lower energy and water costs, and increase property value.
National Grid Programs and Incentives
Offers financial incentives for energy-efficient upgrades, compressed air systems, steam traps, and tiered incentive programs for large commercial and industrial customers.
FlexTech Program
Provides financial support for energy studies, identifying energy-saving opportunities, and incorporating clean energy into capital planning for businesses.
Orange and Rockland Programs and Incentives
Includes prescriptive rebate pathway, instant lighting incentives, and incentives for installing electric vehicle chargers.
New York State Energy Research and Development Authority (NYSERDA) Incentive Programs
Administers 75 different programs to help businesses across New York clean up their energy use.
Green Roof Tax Abatement
Provides a one-time property tax abatement for buildings with green roofs, encouraging green roof installations.
- The Green Roof Tax Abatement offers a tax credit of $4.50 per square foot of eligible green roof space installed.
- The credit is applicable to residential, commercial, and industrial buildings.
- Eligible green roofs must have a minimum of 50% vegetation coverage and be accessible to maintenance personnel.
- The credit is capped at $200,000 or the total tax liability for the tax year, whichever is less.
Green Innovation Grant Program (GIGP)
Supports projects that improve water quality and mitigate the effects of climate change through green practices.
Alternative Fuels and Electric Vehicles Recharging Credit
Offers nonrefundable credits for investments in new alternative fuels and electric vehicle infrastructure.
Biofuel Production Credit
Provides a refundable credit for businesses that produce biofuel.
Clean Heating Fuel Credit
Offers a refundable credit on the purchase of bio-heating fuel for space heating and hot water production.
Conservation Easement Credit
Provides a refundable tax credit for businesses that own land subject to a conservation easement.
Sales and Use Tax Exemptions for Commercial Solar Energy Systems Equipment (TSM-M-05(11)S)
Exempts commercial solar energy systems equipment from state sales and use tax.
Sales and Use Tax Exemptions Related to Commercial Fuel Cell System Equipment (TSB-M-16(3)S)
Provides exemptions for commercial fuel cell electricity generating systems equipment.
Green Projects Tax Credit
Allows companies with eligible green projects to capture a tax credit for net new job creation.
Green Investment Tax Credit
Discretionary credit for qualifying new capital investments in green projects.
Funding Support for Nature-Based Solutions
Provides funding for the development of innovative nature-based solutions to lower emissions and sequester carbon.
New York Green Bank
Mobilizes private capital to support clean energy start-ups and climate change mitigation projects.
Regenerate New York Forestry Cost-Share Grant Program
Supports forest regeneration projects for climate change mitigation and conservation.
Kenneth R. Cerini, CPA, CFP, FABFA
Managing Partner
Ken is the Managing Partner of Cerini & Associates, LLP and is the executive responsible for the administration of our not-for-profit and educational provider practice groups. In addition to his extensive audit experience, Ken has been directly involved in providing consulting services for nonprofits and educational facilities of all sizes throughout New York State in such areas as cost reporting, financial analysis, Medicaid compliance, government audit representation, rate maximization, board training, budgeting and forecasting, and more.