I recently peeked up in my attic to find some disturbing things. The insulation was ripped off the duct work and there was a hole in the duct from one of the previous owners crawling over it. The previous owners had moved phone lines around and added recessed lighting in one of the bathrooms and never put the insulation back so there we several spots that had no insulation. On top of that someone in the past had paid someone to blow extra insulation in the attic but the contractor only blew insulation around where you could see when you stuck your head up there.
I repaired the ducts and wrapped them with foil faced insulation from Home Depot which made an immediate difference since I wasn’t heating the attic anymore.
I started looking for deals on insulation and doing a little research on how much insulation should be up there. For my area (Chicago) most recommendations were between R-38 and R-50 in the attic. You can lookup your recommended R-values here. I found a rebate on insulation and ended up adding R-25 on top of what was already there which got me to about R-50. It took me one day to roll out a whole layer of insulation up there. It wasn’t very much fun because it’s a real tight space and I definitely recommend getting the encapsulated stuff if you are doing it yourself so you don’t get covered in fiberglass. But the difference was immediate, no more cold and drafty areas upstairs and the next months heat bill had a nice surprise. Although it was colder in December 2007 than it was in 2006 my Natural Gas usage dropped nearly 30% which lead to a nice savings.
Adding insulation to your home can be an easy weekend project which will conserve energy and conserve some cash. I spent about $400 on insulation and saved $60 on my first month’s gas bill. The insulation will more than pay for itself in a few months and will continue to save me money in heating and cooling bills for as long as I own the home.
Here’s some additional reading on the benefits of insulating you home better: http://www.ornl.gov/sci/roofs+walls/insulation/ins_01.html
I also recommend watching the newspaper or checking online for rebates or sales. I’ve see deals for rolls of insulation at buy one get on free. Some power and gas companies offer rebates and you may be eligible for a tax credit for the money you spend on adding insulation to your home.