In just two years, Groupon has become the fastest growing company ever. In 2010, it had $500 million in sales. That success is not lost on businesses catering to the green movement.

This week, Green America launched Green Deals, a concept based on the groupon model where consumers sign up and receive a daily email for a deal of the day.

Will it work? That depends.

…it remains to be seen whether the vast number of consumers who tell surveys that they value sustainability and green products will do so in the social-buying space.

GreenBiz.com’s executive editor, Joel Makower, has written repeatedly about the gulf between what people tell market analysts and pollsters, and what they do when shopping.

Perhaps the GreenDeals model will take off because shoppers who might waffle on a green product on store shelves will be unable to resist a deal. And Green America says green businesses are lining up to take part in the new green daily deal, in large part because of the desirability of the well-to-do LOHAS market.