Think Big by Donald Trump: on Energy & Oil

Donald Trump: Green buildings take 40 years to get investment back

DT: I'm doing one right now. I'm doing this huge complex in Jones Beach in coordination with the State of New York. It's on the ocean and it's going to be great. I made a deal to build a regular building and all of a sudden the state wants me to do a green building. I could have challenged them, because I have my long- term lease. A new commissioner came in and just wanted a green building. It's much more expensive. The science has not been perfected yet and in some cases the savings cannot justify the huge cost. You spend a tremendous amount of money now, and it takes 40 years to get your money back. Even with the tax breaks it doesn't work financially. For example, if I use solar, I get my money back with the tax breaks in 12 years. It's a very hard thing to justify in terms of real estate right now. It's a long, long time before you get your money back. I think that will get better with technology.