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Determinants of Green Building Adoption

Franz Fuerst, Constantine Kontokosta and Patrick McAllister
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Constantine Kontokosta: Center for Urban Science and Progress, New York University, 1 MetroTech Center, 19th floor, Brooklyn, NY 11201, USA
Patrick McAllister: The Bartlett School of Planning, UCL Faculty of the Built Environment, Wates House, 22 Gordon Street, London WC1H 0BC, England

Environment and Planning B, 2014, vol. 41, issue 3, 551-570

Abstract: In this paper we investigate variations in the adoption of LEED-certified commercial buildings across 174 core-based statistical areas in the United States. Drawing upon a unique database and using a robust analytical framework, the determinants of the proportion LEED-certified space are modeled. We find that, despite high growth rates, LEED-certified stock accounts for a relatively small proportion of the total commercial stock. The average proportion is less than 1%. A further contribution of the paper is that our concentration measure avoids the biases associated with simple percentage measures that were used in previous studies of this topic. Strongest predictors of the proportion of LEED-certified commercial space in a local market are market size, educational attainment and economic growth. In terms of policy effectiveness, it is found that only a mandatory requirement to obtain LEED certification for new buildings has a significant positive effect on market penetration.

Keywords: energy efficiency; LEED; commercial real estate; innovation diffusion; ecolabeling (search for similar items in EconPapers)
Date: 2014
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