Embracing green technology could save developers up to 50 per cent of initial costs involved in putting up buildings, a study says.
The study, dubbed 'Greening Buildings and Communities: Costs and Benefits', says green buildings save energy by as much as 30 to 60 per cent. Conventional buildings use materials that are energy-consuming, which eventually translates into high costs for contractors.
“Strathmore, for instance, was able to save 20 per cent of its projected budget on its first green building structure - the Strathmore Business School,” said the vice chairman of the Kenyan Green Building Society, John Kabuye, during the launch of the report in Nairobi.
The study further says that with technology improvements driving down capital costs and green initiatives now improving efficiency and operating costs alongside a proliferation of green financing instruments, there is a real opportunity for the cost-saving momentum.
“Kenya and the region will continue to enjoy strong economic growth, but if policies and procedures, and most importantly financing and certifications from the region’s green councils are not made transparent and understandable for developers and investors, the region will lose an opportunity,” said Madhur Ramrakham, a member of the Kenya Green Building Council.