The "green" cache has become increasingly attractive to property owners. Whether their reasons are financial, driven by a reduced carbon footprint, or purely socially conscious, the demand for green properties is real and growing. This attribute is becoming a strong consideration for a tenant when entering into a lease with a building owner or for a business to attract potential employees.
Studies have shown that buildings where renewable energy is deployed have 1) higher occupancy rates, 2) reduced tenant turnover, 3) higher per square foot rental rates, and 4) long-term increased property valuation. These components translate into increased economic value to the property owner.
Municipalities, educational facilities and non-profits are also being spurred on to "go green", and those that do are also reaping the benefits.