In the recent economic times summit it was agreed that INDIA needs to design and construct green buildings to control the use of electricity as it accounts for nearly 90% of the carbon footprint of a single structure. Green buildings can help reduce electricity consumption.
helping to assuage the challenge of electricity demand With an estimated 10% increase in the built-up area of residential and commercial buildings every year. About 70% of the renewable energy in the country is sourced from wind. “Energy generation from biomass and hydro should also come up with uncultivable land being used for bio-mass energy generation,” Climate Connect director, Nitin Tanwar said. The panelists said developers as well as end consumer should be given incentives in the form of tax benefits to encourage development and uptake of green homes. Even though some banks have started looking at subsidising home loan rates for green units, the benefit for a developer is yet to come. The country’s largest lender SBI offers 50 basis points interest discount to borrowers for green homes.
Panelists argued for tax benefits for developers so that such homes are available for the consumers. At present, the total area under green construction in the country stands at 406 million sq ft, but with corporates waking up to the cost benefits of a green building this is expected to reach about 6 billion sq ft in next five years.
A green building incorporates several features, such as effective use of existing landscapes, use of recycled and environment friendly building materials, non-toxic materials, efficient use of water, use of energy efficient and eco-friendly equipment, using renewable energy and better indoor air quality for human comfort.