With how cold the climate can get here in Philadelphia, one thing is clear: No one wants to deal with high monthly energy bills, so it makes sense to look at ways to cut them down. The leading cause of those high energy bills is usually little to no insulation in your home. You may not be in the market to re-insulate your whole house, but focusing on one area, like the attic, can definitely help.
At Industrial Roofing Contractors, we have insulated thousands of homes across Philadelphia, and in doing so have helped many of those homeowners reduce their monthly energy bills by more than half. These savings are more in line with homeowners who insulate the whole house, but just how much money can new isolation save you?
How Much Money Can You Save With Insulation?
The EPA states that insulation can lead to savings of 15 percent on your cooling and heating and 11 percent on your total energy costs. Some estimations, although not by the EPA, are even higher at around 20 percent. Without insulation, all the money you pay to treat the air in your home is going up and out of the roof. Do remember that heat rises after all!
Let’s take a look now at some of the factors that can impact your savings with insulation.
Saving Energy And Money With New Insulation
The saying goes that time is money, but we’d say that energy is money.
When you have to run your air conditioner longer because the rooms in your home are trapping heat, or when you have to blast your heater to combat the air leaks in your attic, the energy usage adds up. You’ll notice higher utility bills month after month.
The EPA estimates that the average homeowner can save 15% on heating and cooling costs (11% of total energy costs) by adding insulation in attics, crawl spaces, and basement rim joists. For most folks, that’s about $200 in savings per year. In colder parts of the country, savings increases up to 20%. With the average cost of most insulation types hovering around $0.20 to $0.50 per square foot, you can do the math to understand the savings you’d see over time after upgrading your home’s insulation.
A well-insulated home often commands a higher market value. Recent studies estimate that there’s generally at least a break-even return on investment regarding your home’s value after installing fiberglass insulation in the attic. Additionally, you may be eligible for tax incentives to help finance the upgrade; though these are subject to change, so it’s best to speak with a qualified tax preparer to understand current regulations.
Benefits of Home Insulation
Preserves Your HVAC Units
Having to replace your heater or air conditioner sooner than 10 years old puts an unnecessary strain on your wallet. When your home is well insulated, it has fewer air leaks that let in outside air. In the winter, this means the frigid air stays outside and your heater doesn’t have to work harder to keep your home toasty.
Reduces Outside Noise
Insulation is excellent at preserving your home’s temperature, but it also prevents outside noise from easily getting into your home, such as the sounds of passing cars on your street or the barking of your neighbor’s annoying dog.
Even if you never turn around and sell it, your home will be as valuable as possible, which means it’s high-quality and thus nice to live in. Studies increasingly show that energy-efficient homes can go for a higher price because more people are understanding the long-term benefits, such as money savings and comfort.
Insulation can save you a national average of 15 percent on your monthly heating and cooling bills as well as 11 percent of your home’s total energy costs. The hundreds of dollars you save in energy month after month add up to thousands of dollars per year, and all the while you’re increasing your home’s curb appeal!
If you’re looking for more insulation information, contact the experts at Industrial Roofing Contractors. We’ll be more than happy to help you make the most of insulation today!