In this case the insulation itself will probably payback quickly. The problem is the cost of re-siding the house to get the insulation in- likely similar for CO2 impact.
Actual installation and other materials excluded (adhesives, mesh, silicone render, 450 hot beverages, getting the neighbour's car repaired after the scaffolders hit it, etc.) excluded.
I don't have a full year of data yet, but all in it's looking like CO2 emissions are going to come in at well under 40%. This is in line with the independent assessment I needed to clear a grant for some of the costs[2]. It seems to me "carbon ROI" is about 1/4 the financial ROI (est 8+ years).
Now if it was PU instead of EPS that would be a different cost (10x the CO2 of polystyrene). Sadly I also ended up with some PU (PIR) in a small area of low-pitched roof void, I don't know if there were better choices there.
There's also a hidden cost in living in a cold, damp building - now there are winter days when I don't even turn the heat on at all.
[1] https://www.greenspec.co.uk/building-design/embodied-carbon-... [2] https://www.seai.ie/publications/Your-Guide-to-Building-Ener...
I think the key thing here is that energy is 100% fungible unlike your examples. A kWH is a kWH.
It is part of real estate listings in the Netherlands, and it very much affects the value of the building. https://www.tilburguniversity.edu/nl/actueel/nieuws/meer-nie...
That's far too low to justify the huge sums involved in energy renovations.
That is going to cost quite a bit.
Assuming your percentage is correct and home prices are much bigger it makes it seem like a spectacular investment. Actually too good to be true of an investment.
If the return were 2% or max 5% I could see it maybe not being worth it depending on home prices in your area.
That is going to cost in the €150K-€200K range in Europe for a €400K, 150 m^2 house.
We keep in touch with the new owners who have since thanked us for building so well. Their bills are much lower than any in the neighborhood and they had no idea.
The same goes for heat pumps. I'm living in my third build and we had room to do a ground source heat pump. It is amazing and my bills are half of what my neighbor pays for a similar size house. Mine is also better insulated. When it comes time to sell it, nobody will care.
The US needs to up the codes on insulation. Hot climate, cold climate - who cares, it helps.
Your action is going to make close to 0% difference for the 8+ billion humans inhabiting the planet. So from a practical standpoint, you've failed, but that practical failure makes it clear that the gesture has pure symbolic value for you.
And since that symbolic value stands in stark contrast to incessantly chasing positive financial returns: task failed successfully. Congratulations!
You're arguing systems and scale. This person is simply early in the adoption curve. Consider what will happen when this happens more broadly. As the climate situation becomes more dire [2], the price of carbon emissions per ton will rise and the willingness to prioritize energy savings and carbon emission reductions should increase regardless of fiat return. Physical system outcomes are distinct from magic number in database goes up.
But sure, if you're already poor and have nothing [3], this won't matter to you and your life trajectory is already mostly locked in today. As nullstyle mentions, we need to compound in the positive outcome direction, and those decisions are being made today.
[1] https://www.nature.com/articles/s41586-022-05224-9
[2] https://www.npr.org/2024/04/09/1243595924/march-world-hottes...
More, though, moving to something that gets you a more climate controlled home in the name of efficiency is odd. You could almost certainly use smaller scale solutions to get more comfortable living that does not involve such a drastic change to the home. Clothing and lifestyle changes are things you can do, for one. For two, though, if the place was so drafty you could feel a breeze, it almost certainly did not have active heating/cooling to the level that they built up to. Such that is seems odd to justify how efficient you could do something that was just not getting done before?
No reason not to do it, of course. But insulation is an expensive thing to add to a house. Not just in raw costs, mind. Most insulation materials are of dubious carbon neutrality. And nothing lasts forever, least of all housing.
https://www.whitehouse.gov/briefing-room/statements-releases... (control-F insulation)
https://www.energy.gov/energysaver/types-insulation
https://www.energystar.gov/saveathome/seal_insulate/methodol...
Scanning websites on this claim, I see that "properly installed, with no damage" some types claim up to 100 years of service for insulation. I strongly suspect that that is a claim that will not hold for the vast majority of homes. More reading also strongly suggests that if your house was built prior to 2005, you probably need to get the insulation redone.
Worse, from my experience, the older the home the less likely you are to have subfloor/walls to actually install insulation. Heaven help you if you do one of those container homes. And if you live in an environment where you have heavy rains or hail, expect damage to creep in rather quickly.
Don't get me wrong, I support the idea that adding insulation is almost certainly a good idea where you can. I just can't bring myself to trust claims of 100 year service life.
German building standards contribute to the longevity of residential buildings.
I will add I just moved out of a hundred year old house in Seattle. I know they can happen. I also know that house had no air conditioning and retrofitting one on would have basically meant a new house. Even if it looked the same.
Looking at what's happening here in Canada, where it looks like what has high chances to be the next government is campaigning on getting rid of the carbon tax, these days I'm somewhat pessimistic that carbon pricing will actually be implemented by the top contributors to global emissions. I hope I'm wrong.
Better is always good
Long term positions are not valued.
Stock market? Positions that might benefit others are not even considered.
ESG?I agree, what kind of hat is your house wearing?
I am so frustrated with this analysis and sentiment when it comes to environmental investment. I understand that looking at it with a financial lens can and should be done to inform what we do, and it would be great if a project just paid for itself, but you look at all the other things we spend money on and the same calculus is not used.
People don't buy the cheapest car, house, clothing, or food they could possibly get by with, or analyze the marginal cost of moving up or down the possible price tiers available to them with only the financial payback as a guide. Yet we constantly hear the refrain that you shouldn't spend a given amount of money on solar, house improvements, appliances, etc. that might be better for the environment if the payback isn't somehow positive with a 10-20 year payback period.
I've constantly had to work with contractors to let them know that I still want to pay for the marginal costs associated with investment even knowing that the marginal financial benefit is smaller. For instance, with solar panels in less than ideal locations, tri-pane windows, etc. I have disposable income, and I think the world is trouble for the 8+ billion humans inhabiting it, so I think it's worthwhile that I would spend some of that to make it marginally better even if that means I don't have a positive financial return.