One question that we always get asked here at The Green Cocoon is, “What is the R.O.I. on insulation?” Consumers want to know if the upfront cost is worth it and more importantly, how long the payback will take. Let’s break this down and find out! Although energy costs vary per state, the average winter heating bill for oil and propane users is about $3,600.00 per year in New England (www.mass.gov/eea/energy-utilities…/household-heating-costs.html). The average monthly electric bill is around $94.00 (http://www.electricitylocal.com/states/massachusetts/), and much higher in the summer months due to the use of air conditioners. That comes to a moderate total of $4,720.00 annually. Some of our customers have seen reductions in their heating and cooling bills of upwards of 75%, but for the sake of this example, let’s just say that by insulating your home you save 25%. That is a savings of $1,182.00 per year! If the average insulation job for medium sized homes is around $6,000 (give or take a few thousand depending on size and material), it would take about 5 years to get the return on your investment. After that, you are pocketing an extra $1,182.00 per year. Think of all of the things you could do with that money! What does that money equal? Here’s what you can do with $1,182.00:
1) You can buy 2 months worth of groceries for a family of 4.
2) You could take a one week cruise to the Bahamas every year.
3) Fill the gas tank in your car for 6 months!
4) Invest it every year and after 30 years you would have over $84,000!
As you can see, insulation is well worth the investment. The question should not be “Can I afford it?” The question is, “How can you not?”
Don’t have the money upfront for insulation? Don’t wait to start saving. Ask us about our interest free financing options!