CEE Jan-Mar 2012

for buildings, green will not be an option but a norm for all. Cost of green projects The only factor that may ecl ipse green architecture in India is widespread deliberations on cost factors. Myths .have blurred the sanctity of green buildings. A global survey in 2007 found out that most property professionals and architects overestimate the cost of constructing energy-efficient buildings up to 300 per cent. Studies in the US over time have revealed that certified green buildings don't cost any more than conventional buildings on a per square foot basis. Many architects across India admit that capital cost of green buildings is higher. Depending upon the rating one adopts, it could be as much as 10 per cent higher as the cost of equipment is much higher. But real financial benefit kicks in during operation cost of the building. An additional design analysis, product research, computer modelling and lifecycle cost analysis for alternative materials does require an extra investment and cost in the beginning, but through reduced maintenance, utilities, longer life of building materials and a better environment, the returns compensate for initial investments. In fact, in the long run green buildings can be more economical than conventional buildings. Earlier, green projects were little costlier due to new undiscovered methods of design and construction , but by 2005- 2006, the costs were being reduced to more conventional levels. The easy availability of more choice of green products in the country is also moderating the cost factor today. According to some factual data of IGBC, "The cost premium of constructing a green building over a normal development was approximately 8 per cent in 2008, reduced from 18 per cent premi um in 2003 . It is expected to further decline to 1-2 per cent premium by 2014 -2015." The cost of green buildings depends on various factors: The building programme, demographic location, the rating which is being tried to achieve (if at all), how earl y the green principles have been applied in the project and competence of designers with green concepts. Surely, green building provide various financial benefits that conventional buildings do not. These include water and energy savings, optimal daylight and ventilation (leading to less dependency on mechanical systems), reduced waste, better indoor environmental quality, reduced operation costs and reduced infrastructure strain. The IGBC website admits to have a slightly higher cost of a green building and points out that one needs to have a baseline cost for all comparisons to be alike. Studies conducted in India analyzing the financial costs and benefits of green building projects have concluded that 'a minimal increase in upfront investment of about 2 per cent-12 per cent of construction costs to support green design, typically yields lifecycle savings of about 20 per cent of total construction costs, that is over 10 times the initial upfront investment.' How to mitigate cost To mitigate project costs, one should understand that cost 74 ... _