Home Insulation: The Value of Insulating Your Home
Insulating is one of the most cost effective ways to stop overspending on your energy bill. According to the Energy Star program “homeowners can save an average of 15% on heating and cooling costs (or an average of 11% on total energy costs) by air sealing their homes and adding insulation in attics, floors over crawl spaces, and accessible basement rim joists.”1 Your savings potential could be even greater—especially if you are in an older home.*
Why you should take action today
Now is the time to be thinking about energy savings. Most homes are leaking energy, so insulating and air sealing is like plugging these leaks—and taming the skyrocketing costs that go along with them.* Since 2004, residential electricity prices across the US have risen nearly 40%2 and changes in the utility industry suggest this trend is likely to continue. As energy costs continue to grow at a much faster rate than the average income, energy will costs will demand an even greater share of your bank account in the future. Re-insulating today is a practical approach to protecting yourself from these increased costs.
117% return on investment
In January of 2016, Remodeler Magazine released its annual “Cost vs. Value” report, which breaks down both the cost and return on investment of many of the most common home improvement options. Adding fiberglass attic insulation was included in the report for the first time, and it topped the list in terms of the percentage of your initial investment you would recoup in the form of increased home value at 117%. This figure only speaks to what it does to your home’s value, it does not even take into account any possible energy bill savings*. The results of this survey demonstrate that re-insulating to your home can improve its value.
Need more incentives to insulate?
It literally pays to invest in the energy efficiency of your home. There are a number of federal, state, and local utility financial incentives and rebate programs available to homeowners interested in insulating and other energy efficient home improvements.
Search for incentives for renewables and efficiency
The Database of State Incentives for Renewables & Efficiency (DSIRE) is a comprehensive source of information on federal, state and local utility incentives and policies that promote renewable energy and energy efficiency.
Find incentives you may be eligible for at www.dsireusa.org.
IRS Energy Efficiency Tax Credit for Homeowner
Homeowners may be eligible for a tax credit of up to $500 or 10% of qualified energy efficiency improvements such as insulation.
Learn more about the tax credit and your possible eligibility at www.irs.gov/Credits-&-Deductions