Monetisation of Costs and Benefits of Green Versus Conventional Building: A Case Study of LPU, Phagwara

Due to the adverse environmental impacts of the construction industry, a shift is being made in the ancient mode of construction by including cleaner technologies. One such alternative is development of green buildings as they are assumed to be eco-friendly, energy-efficient, and resource-saving throughout their life cycle. The emphasis on green buildings has recently become prominent throughout the world including India due to their environmental, economic, and social benefits. The main objective of the study is to conduct a comparative analysis of a conventional v/s green building and establish the economic viability to determine the impact of sustainable features on the life cycle costs of a conventional building. Quantitative data on construction and operational costs of the selected conventional building has been collected and analysed using cost–benefit analysis (CBA). The analysis shows that though the construction cost of a green building is higher than a conventional building, it is energy efficient in the long run. Moreover, there is an increase in LEED points from 2 to 42 by implementing green building features to an existing building. The cost–benefit analysis shall be useful in increasing awareness and removing barriers related to adoption of green technologies in the construction sector.