According to Energy
Star, 9 out of 10 American homes have insufficient insulation. Sealing air
leakages and adding quality insulation to your home are two of the most
cost-effective ways to enhance energy efficiency and comfort in your home. In fact,
it can help you save up to 10 percent on your yearly utility bills.
Let’s take a look at how investing in new insulation for
your home can save you money in a variety of ways, and why you should never opt
for cheaper insulation.
The Dangers of Cheap Insulation
In
terms of cost, less effective insulation for your home can lead to higher
energy bills. That’s because poor insulation doesn’t effectively trap air,
which is essential to slow down the flow of heat out of your home in cold
months and into the building during warm months.
As
a result, your heating/cooling system has to work harder and for a longer
duration to maintain the right temperature indoors. About 49 percent of a home’s electricity bill is spent on
heating and cooling, according to the US Department of Energy. So, one of the
major reasons your utility bill might increase suddenly is that your building
lacks proper insulation.
Moreover,
if you install poor insulation in your home, it needs to be replaced more
frequently, which also means facing a major expense every few years.
How Quality Insulation Saves
Money
Here
are some of the ways new, high-quality insulation can help homeowners save more
money in the long run.
1. Lower Utility Bills
When your home is improperly
insulated, the air leaking through your building’s envelope wastes a lot of
energy and increases your utility bills. Using the right insulation can make a
real difference in your energy costs. For comparison, a fully insulated
building can be warmed with 50 percent of the heating of an uninsulated home.
Environment Protection Authority (EPA) estimates that, on average, homeowners can save up to 15
percent on heating and cooling costs (or an average of 11 percent on total
energy expenses) by adding quality insulation in basements, attics, and floors
over crawl spaces.
2. Save on Replacement Costs
High-quality and durable
insulation like spray foam can last a lifetime or longer. Moreover, as it is
resistant to mold and doesn’t retain moisture, the insulation does not displace
and usually stays put until you physically remove it. Fiberglass insulation is
another effective and cost-efficient insulation type. Unless damaged, it can last
80 to 100 years in most homes before it has to be replaced.
Using high-quality insulation
saves you from repair and replacement costs that you may otherwise have to face
when installing poor insulation.
3. Higher Market Value
A properly insulated home often
attracts a higher market value. That’s because homebuyers are more likely to
buy a house that is move-in ready and well-maintained. There is usually at
least a break-even return on investment (ROI) regarding your property’s value
after installing high-quality insulation in the attic—if your insulation has
been recently replaced, you may even be able to use this as a selling point or
as justification for asking for a higher price.
When prospective buyers walk into the
home, they can easily see if the space is well taken care of. Good insulation
indicates a high probability of the home being free of mildew, mold, and
dampness issues. As mentioned earlier, houses with no or poor insulation can
cause potential health problems.
4. Tax Benefits & Rebates
Many homeowners are also eligible for
tax incentives and rebates to help fund the insulation upgrade. Most bulk
insulation products are eligible for federal tax credits, including expanding
spray, blow-in fibers, rolls, rigid boards, batts, and pour-in-place. Keep in
mind that these incentives are subject to change, so it is best to consult a
qualified tax professional to understand current regulations.
The recent Inflation Reduction Act offers a 30% tax credit for homeowners that make
energy-efficient upgrades to their buildings. This tax credit is available
through 2032 and applies during the year a project was installed. The HOMES rebate program is another program that’d pay homeowners up to $8,000
for conserving home energy by at least 35 percent through efficiency retrofits
such as insulation and HVAC installations.
Install Cost-Efficient Insulation with Superior Insealators
No matter where you live, it’s vital to have a
well-insulated house so you and your loved ones can stay comfortable while also
saving on your monthly energy bills.
At Superior
Insealators, we are knowledge leaders in insulation and provide homeowners
with expertise, planning, and high-quality insulation installations that they
can trust. We offer a wide range of services designed to increase the energy
efficiency, comfort, and safety of your place.
Not sure what’s the right choice when it comes to your
house? Get in touch for a free
estimate.
