YES! The first thought many people have on spray foam insulation is the cost- generally three times the investment of fiberglass/cellulose products on the market. The thing a homeowner must keep in mind is you only insulate ONCE with foam. It is an investment that can pay for itself in under five years! This is through cost savings on heating and cooling bills alone. Unlike other insulation materials, it will not degrade or settle and will ensure years of consistent savings. In the market today there are very few products that can claim such a fast payback. Energy costs only continue to rise making the estimated payback time shorter and shorter.
An average 1500–2000 square foot home in new construction generally costs around $9,000-$14,000 depending on many factors. The average retrofit attic costs around $2000-$4000 depending on the complexity of the roof and square footage.
However, there is a tax incentive for this insulation. Your tax credit can be 30% of cost, up to $1,500 if it meets 2009 IECC & Amendments. For insulation to qualify, its primary purpose must be to insulate. (example: vapor retarders are covered, siding does not qualify). Also, it must be expected to last 5 years OR have a 2 year warranty. For more information on this tax incentive, click here.