Financial Benefits and Overall Costs of Green Buildings Essay

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There have been uncertainties concerning green buildings. What are green buildings? , What effects do they have? , What do they mean financially? ,These are some of the questions that need answers. The Green Building Council of South Africa describes a green building as “a building which is energy efficient, resource efficient and environmentally responsible-which incorporates design, construction and operational practices that significantly reduce or eliminate its negative impacts on the environment and its occupants” (GBCSA, 2013). The materials and technologies applied in green buildings simply make one wonder if there are any financial benefits, and how the overall costs are affected of constructing such buildings. This section will …show more content…
Construction of green buildings makes use of materials and systems that simplifies and reduces maintenance requirements; cost effective and reduces life cycle costs.
Waste Management
Waste management is an important factor in sustainable building. If waste is not managed, it becomes costly for a construction project. The sustainable way of building encourages practices such as waste prevention, salvage, deconstruction and recycling to reduce waste management costs. Transportation and landfill costs could add to a project cost, however green building eliminates these costs through the applying of the practices above. (Fishbein, 1998) Construction waste generally makes up to 10% - 30% of the waste received in landfill sites around the world. Among other benefits, purchasing costs are reduced for the project since some materials are being recycled and reused.
Energy Saving
According to Gregory Kats, looking at energy costs, the average green building uses 30% less energy than conventional buildings (Kats G.H, 2010). On top of this energy efficiency, green buildings are likely to generate renewable energy on site and they have lower electricity peak consumption. The self generated energy comes from photovoltaic.
What numbers say?
The city of Johannesburg Municipality tariffs and charges for example are as follows:
0 – 500kWh R0.8904per unit
500 – 1000kWh R1.0106per unit
1001 – 2000kWh R1.0760per unit

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