What are the Benefits of Green Technology in Construction?

Construction Tech Review | Monday, October 26, 2020

Green technology can improve any building no matter what size or purpose it is for.

Fremont, CA: The world of green technology solutions in the construction industry is improving rapidly and has countless definitions and related advantages. Simply put, green technology in the construction industry consists of producing new buildings that incorporate one or more aspects of environmentally friendly solutions. Building green has increased the bar for the housing industry in its entirety by initiating new standards for livability and sustainability as well.

What is more noteworthy is that companies with green solutions have improved their financial efficiency compared to conventional businesses that do not implement green applications. Business’ survival in the present harsh economic times calls for efficiency and innovations.

Money-Saving Importance of Green Engineering

Although the up-front costs for green technologies are usually higher, the lifetime savings are substantial. Green technologies are created to efficiently use the resources, which generally leads to the owner’s financial savings. With a green building, one can foresee significant savings in utility bills. Geothermal systems, for instance, uses nearly 50 percent less electricity than the standard systems for heating and cooling. 

Top 10 Construction Tech Startups - 2020Tax Incentives

Green buildings, commercial and residential both, are eligible for the government tax credits as a contribution towards the expense of installing environmentally-friendly technologies consisting of geothermal, photovoltaic cells, solar water heaters, and small wind systems. For instance, if one owes $5,000 in federal taxes and claims a tax credit of $500, their tax liability would be decreased to $4,500. Several credit amounts are available, based on the kind of technology installed, but with an overall limit of $500. 

Environmental Benefits

One of the most typical applications of green engineering is the environmental impact. Green technology reduces emissions, conserves water, reduces waste, and consumes less energy than conventional technology. Green buildings also use materials more efficiently. In 20 years, a single solar water heater can keep over 50 tons of carbon dioxide emissions out of the atmosphere; geothermal pumps decrease emissions by up to 70 percent and use up to 50 percent less electricity.

See also: Top Construction Tech Solution Companies

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