The Mathematics of Spray Polyurethane Foam Insulation
Do the dollars make sense?
How much does it cost? The investment to have spray foam installed is typically 2-3 times that of traditional fiberglass insulation. Average U.S. rates are between $1.50 - $3.50 per square foot of surface area, depending on which product is used and how thick it is applied. The $1.50 per sq ft will generally get you around 3 to 4 inch thickness of open cell foam. The $3.00 per sq ft will generally get you around 3 to 4 inch thickness of closed cell foam.
What's the return? The return is a much more difficult number to pinpoint due to the fact that location, orientation, construction, occupancy, etc. can all affect the amount of dollars spent on utilities. The US Department of Energy states that heating and cooling accounts for 50% of the average home's utility costs...and that's where spray foam comes in. On average, consumers reduce their heating and cooling usage by 30-40% when spray foam is installed.
EXAMPLE: Let's say you have 2000 sq ft of area and pay $4,000 to have spray foam installed. Let's also say that you normally pay $400 in utilities, around $200 of which would be from heating and cooling...you would save roughly $70 per month thanks to spray foam. This means it would take approximately 4.7 years for spray foam to pay itself off. Now, if you have the spray foam installed in a new construction scenario and the spray foam is rolled in with the mortgage financing, the monthly savings on utilities almost always outweighs the additional cost in the monthly payment. At the end of the day, if you plan on occupying your home or building for 5 years or more, or if you just like a more comfortable and "air tight" space, spray foam is definitely a worthwhile investment.
Have you used spray foam before? We would love to hear what amount of savings or ROI you have achieved. Please contact us below and let us know your real world experience!