The cost of heating or cooling your home is skyrocketing with no end in sight. According to the Energy Information Administration, over the last few years, Americans have opened up their utility bills to find anywhere from 18 to 30 percent increases in their energy costs from the previous year.

While you may not be able to do anything about the cost of energy, you can control the amount of energy it takes to keep your home at a comfortable temperature. If you are considering renovating or expanding your home, this is a perfect time to increase its energy efficiency by adding more insulation. Increasing your home’s insulation will ultimately save you on the cost of heating or cooling your home and keep you and your family more comfortable throughout the year.

And if saving on your utility bills is not enough, there is another reason that you should consider increasing your home’s insulation — federal and local tax credits.

The recently passed Energy Policy Act of 2005 includes a tax credit of up to $500 for increasing insulation in existing homes and additional credits for new homes. This incentive applies to 10 percent of the cost of home energy efficiency improvements, such as insulation, made from Jan. 1, 2006 through Dec. 31, 2007.

Other measures you can take that will help earn you the tax credit include updating your windows and installing energy efficient heating and cooling equipment. The IRS has official guidance for this credit at http://www.irs.gov/. State governments and local utilities also frequently offer incentives to homeowners who improve the efficiency of their homes. A database of these incentives is available at http://www.simplyinsulate.com/.

One of the most effective things you can do to save energy and manage your energy costs is to add the right amount of insulation to your attic. Basements and crawlspaces are other good places to check. While most people believe they have enough insulation, studies from Harvard University’s School of Public Health show that nearly two-thirds of all homes are under-insulated by today’s minimum standards. Coupled with caulking and sealing around windows and doors, insulation can save up to 20 percent on heating and cooling costs, according to the Environmental Protection Agency. You can do the job yourself or include it in your renovation project for a minimal increase in cost.

The amount of insulation required in the attic of a home varies across the country depending on the climate where you live. New homes being constructed under the latest model building codes require anywhere from a minimum of R-30 to R-49 (measures of thermal resistance) insulation. Since older homes don’t typically meet today’s minimum code requirements, check with a local contractor or building official to determine what is required for your area.

Since higher R-values mean greater insulation power, you may want to consider adding even higher levels of attic insulation for greater energy savings. There is a point, however, where adding insulation loses its effectiveness compared to other expenditures for home energy efficiency.

Good resources for determining optimal levels of insulation for enhanced energy savings and comfort in your home include: Simply Insulate and Energy Star® Home Sealing. For many older homes, this will mean adding between an R-19 and R-30 insulation to what your home already has in the attic.

Adding insulation to existing walls tends to be expensive and cumbersome. But if you are renovating or adding exterior walls, consider upgrading the insulation there. Also, consider adding insulation to your basement walls. Again, the higher the R-value, the greater the insulating power.

While we were helped this past winter by relatively mild temperatures, we can no longer count on chance to control our energy costs. With high energy costs upon us for the long term, it is more important than ever for each of us to take steps to reduce our monthly costs and save energy.

Adding insulation, caulking around windows and doors, and using Energy Star® products will continue to provide benefits to your wallet and your family’s comfort for years to come. Taking these measures now will guarantee you a lifetime of “mild winters” and “cool summers” when it comes to energy use.
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