Picture of a basement rim joist after applying 3 inches of 2part closed cell foam to create a thermal barrier & r-20 rating.
Basements are notorious for being cold, dank areas that homeowners avoid as much as they possibly can. The heat from your home can quickly escape through the basement and its immediate connection to the ground. This connection leads not only to the cold air associated with the basement but a higher moisture content that makes the basement unpleasant to be in. The basement also conducts heat from the main floor of your home, leaving that floor colder and raising energy costs.
In general, but especially during the summer months, moisture can seep through your walls and get absorbed by your insulation. This leads to the formation of condensation that can eventually cause mold, rot and reduced insulating performance. For this reason, fiberglass insulation usually needs to be avoided when insulating your basement. Closed-cell foam tends to be the insulation of choice.
How much money will basement insulation save you annually?
According to a report published by the U.S. Department of Energy, the annual savings attributable to R-20 basement insulation in a 1,500-square-foot home ranged from $280 per year in Washington, DC to $390 per year in Buffalo, New York, assuming that natural gas costs $0.72/therm.