Code. Meeting the requirements of Step 2 would incur A 0.5 percent construction cost premium, about CAD$790 per unit. Meeting the requirements of Step 3 adds about CAD$970 to the per-unit build cost. Finally, the researchers found that building to the very high-performance levels of Step 4 may entail a per-unit construction cost premium of CAD$4,215. For a home in a six-unit row house The Metrics Research report also models an example of the anticipated capital construction cost premium for a hypothetical 1,720 square feet unit built into a six-unit row house project in Surrey, B.C. Units in this hypothetical new building would sell for between CAD$550,000 and CAD$800,000. For this building, the researchers conclude that meeting the requirements of Step 1 would involve a construction cost premium of $560 per unit above the cost of building to the BC Building Code. Meeting the requirements of Step 2 would incur a 0.4% construction cost premium, about CAD$1,250 per unit. Meeting the requirements of Step 3 adds about CAD$2,950 to the per-unit build cost. Finally, the report states that building to the highest performance levels may require non-conventional building practices; this would increase construction costs between $5,500 (Step 4) and $9,400 (Step 5) per unit, the study suggests. Benefits of adoption Buildings built to higher energy efficiency standard have been shown to provide multiple co-benefits – to home and building owners and occupants, to industry, to the environment, and to the community. For building owners and occupants Owners and tenants often prefer high-performance buildings as they require less energy, reducing utility bills. Occupants also prefer them because they better manage: Temperature, improving comfort. Fresh air throughout the building, improving health. Soundproofing, reducing exterior noise. For industry The BC Energy Step Code provides industry with a clear sense of where the province is heading on energy efficiency, while giving builders a welcome level of consistency via standardized performance metrics. For climate change mitigation If a given community's new homes are likely to be heated with natural gas, the BC Energy Step Code will reduce the amount of that fuel they need to burn to stay comfortable. A well-insulated and well-sealed Step 3 home heated with natural gas will consume much less of the fuel when compared with one built to the minimum code requirements. This will result in fewer carbon emissions. For economic development The global green-building market doubles every three years