Abstract
This paper investigates whether obtaining sustainable buildingcertification entails a rental premium for commercial officebuildings and tracks its development over time. To this aim, botha difference-in-differences and a fixed-effects model approachare applied to a large panel dataset of office buildings in theUnited States in the 2000–2010 period. The results indicate asignificant rental premium for both ENERGY STAR and LEEDcertified buildings. Controlling for confounding factors, thispremium is shown to have increased steadily from 2006 to 2008,followed by a moderate decline in the subsequent periods. Theresults also show a significant positive relationship betweenENERGY STAR labeling and building occupancy rates.
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