Insulated concrete forms (ICF) can be used as a substitute for conventional wood

Question

Insulated concrete forms (ICF) can be used as a substitute for conventional wood framing in building construction. Heating and cooling bills will be about 50% less than in a similar wood-framed building in upstate New York. An ICF home will be approximately 10% more expensive to construct than a wood-framed home. For a typical 1,500 ft2 home costing $160 ft2 to construct in upstate New York and costing $250 per month to heat and cool, how many months does it take for a 1,500 ft2 ICF home to pay back its extra construction cost?

Explanation / Answer

Extra construction cost = 1,500 x $160 x 10% = $24,000

Monthly Savings in heating bill = $250 x 50% = $125

Let number of months be N. Then,

N x $125 = $24,000

N = 192 months

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