Cost premium and the life cycle cost of green building implementation in obtaining green star rating in Australia

![CDATA[Due to many obvious environmental issues, green building concept is now being widely recognized and practiced in the industry as an environmentally friendlier building. However, one of the main barriers to the green building market is that the identified cost premium. It has always dwarfed the growth of green building construction despite of its perceived benefits. Therefore, this research aims to identify the impact of life cycle cost (LCC) on green buildings implementation focusing on the Green Star rating in Australia. In LCC, the entire life span of the green building implementation is considered focusing on the major cost components of LCC namely design, purchase and construction cost, maintenance cost, operational cost, development cost and the demolition cost. Each credit point of Green Star rating tool is analyzed and identify whether there is any component of LCC is attributed in achieving the specific credit point. Finally, the results are presented in tabulated format, highlighting the costs to be evaluated against the cost premium for each credit point. According to the research, 63% of the credit points allocated in Green Star rating tool have a direct impact on the LCC of the building.]]