Rising Utility Cost Increasing the Value of Spray Foam Insulation
After reading an article from the Business Record, I’ve been thinking about some of what I would call the “core benefits” of spray foam insulation. I have talked many times in the past about comfort being the largest value of spray foam. And it is, but spray foam insulation has many values associated with it including lowering utility cost. As utility costs continue to rise it becomes an even better asset to saving you money.
According to a CNS News article, Mid-American Energy has implemented the second part of a 3-phase plan in raising electrical rates $45 million dollars in three years. This goes back to the basic supply vs. demand problem. As of January 2014, the US has the smallest supply of electricity since 2007 with an increase in demand of over 14 million people. This problem is only going to worsen as time continues.
Supply vs. Demand
Not only is demand putting a pressure on supply, but environmental groups are mounting legal cases on any new coal-fired electrical plant plans. Many existing coal-fired plants are being taken offline due to legal pressure or expensive upgrade costs to pass tougher emission tests. This site shows a growing list of plants being taken offline.
This leaves us with three choices to increase supply: build new natural gas fired plants, wind generated farms, and lower usage. Natural gas fired plants are relatively clean burning, but when we use natural gas to generate electric power we are also creating a higher demand on natural gas, driving its costs up as well.
Adding spray foam insulation with other energy-lowering options can reduce demand. A properly insulated house or building using spray foam can lower heating and cooling costs by as much as 50%.
Demand per household is also up at this given time. Think about it: back in the 1970s we had one TV per house, one refrigerator, no computers or 4-5 cell phones per home. How many of you now have a refrigerator in your kitchen but also in your basement and garage? How many TVs do you now have in your home? We have all switched to compact fluorescent lighting but demand still increases because of all of the other things in our homes. The problem is it is only going to get worse – how long until we all have 2-3 cars plugged into our garages? That meter is going to spin faster than a Harlem Globetrotters’ basketball!
Spray foam insulation is an investment that will pay increasing dividends as time goes along. Remember, you buy spray foam insulation once, but you buy energy to operate your HVAC system every time it comes on and the costs always goes up over time. To start investing in a lower-usage future, contact us today!