Eichholtz, Kok, and Quigley (2013)

Eichholtz, Piet, Nils Kok, and John Quigley.  "The Economics of Green Building."  Review of Economics and Statistics, 2013.

From the authors' abstract:  "We analyze the economics of green building, finding that recent increases in the supply of green buildings and the volatility in property markets have not affected the returns to green buildings. We then analyze a large cross-section of office buildings, demonstrating that economic returns to energy-efficient buildings are substantial... Among green buildings, increased energy efficiency is fully capitalized into rents and asset values."


Link:  https://www.mitpressjournals.org/doi/10.1162/REST_a_00291