11.05.2007 - 04:28pm ET

(CSRwire) Energy bills estimated to be up to nearly 47.3 percent higher this season (3)

TOLEDO, Ohio, Nov. 5 /PRNewswire-FirstCall/ -- Want to save money, save energy and save the planet? Head to the attic. With oil prices flirting with $100 a barrel, the 60 million American homes that are estimated to have under-insulated attics not only face increased energy costs of up to nearly 47.3 percent higher this winter, they're also emitting one-half ton more CO2 EVERY year (2) than their properly-insulated neighbors. Released into the atmosphere, that's about an average blimp-full of CO2 emissions being released per block of homes each year.

(Photo: http://www.newscom.com/cgi-bin/prnh/20071105/AQM194-a)
(Photo: http://www.newscom.com/cgi-bin/prnh/20071105/AQM194-b)

That's why Owens Corning (NYSE: OC), the makers of PINK insulation, are focused on getting the word out to homeowners on how you can save money and do your part to make the planet a little greener: check to see if you have enough attic insulation. With the Department of Energy recommending an average of R-value 49 for attics, Owens Corning advises that an attic have a minimum of 15.5 inches of fiberglass batt insulation or 18 inches of blown insulation. Chances are, if you can see your wood beams, you need more insulation.

"According to a recent McKinsey study, the single most cost effective measure to reduce greenhouse gases is building insulation," (4) said Gale Tedhams, director of sustainability for Owens Corning. "If we all insulated to the Department of Energy standard of R-49, imagine the difference we could make across the nation -- attic by attic, blimp by blimp, year after year -- in saving money and reducing greenhouse gas emissions."

On top of helping reduce greenhouse gases, homeowners can help reduce their energy bills as much as 20 percent (2) and qualify for a federal tax credit when filing 2007 federal taxes (5) -- which is important as the rising cost of heat continues to take a larger chunk of Americans' paychecks every year. According to the National Energy Assistance Directors' Association, this year's heating expense for homes that heat with oil will see the biggest increase, with the average family paying $2,157.00 for the season, up $693.00 from last year. (3)

"A significant amount of a home's heat loss is through under-insulated attics, but it's simple to determine if you have enough, and it's easy to add more if you don't," said Tedhams. "Go up to your attic. If you can see the wood beams of your attic floor, you don't have enough."

Owens Corning encourages homeowners to go to http://www.insulateyouratticnow.com, a site where visitors can learn how to save on home heating and cooling bills, measure the attic and find out where to buy insulation. To find out how to qualify for a Federal Energy Tax Credit of up to 10 percent, visit http://www.owenscorning.com/insulationfedtaxcredit.

Homeowners who want to reduce their home's energy footprint should consider other energy-efficient upgrades such as:

Installing a Programmable Thermostat

Why heat or cool the house when nobody's home? A programmable thermostat can automatically lower or raise a home's air temperature during the day. By regulating the temperature, homeowners can save up to 10 percent on annual heating and cooling costs.

Plugging the Drafts

Sealing the envelope of the home is the first line of defense against drafts, so it's important to caulk and weather-strip around all seams, cracks and openings. Pay special attention to windows and electrical outlets. Unwanted air leakage alone can raise energy bills up to 10 percent.

Taking a Home Energy Audit

Understanding how much energy a home uses helps homeowners determine what changes will save them the most energy and money. For an easy home energy audit, check out the Home Report Card(R). The quiz provides tailored recommendations for improving home energy efficiency and can be found at http://www.owenscorning.com/homereportcard.

About Owens Corning

Owens Corning (NYSE: OC) is a world leader in building materials systems and composite solutions. A Fortune 500 company for 53 consecutive years, Owens Corning people redefine what is possible each day to deliver high-quality products and services ranging from insulation, roofing and masonry products, to glass composite materials used in transportation, electronics, telecommunications and other high-performance applications. Founded in 1938, Owens Corning is a market-leading innovator of glass fiber technology with sales of $6.5 billion in 2006 and operations in 30 countries. Additional information is available at http://www.owenscorning.com.

(1) The US could save up to three million blimps full of CO2 emissions (the average blimp holds approximately 200,000 cubic feet of gas) if all under insulated attics in the US were insulated to the DOE standard. Estimated 60 million under-insulated homes in 2006 based upon a 2003 Harvard School of Public Health study, The Public Health Benefits of Insulation Retrofits in Existing Housing in the United States.

(2) Savings will vary depending on your location and weather conditions. Calculations of energy savings based on a 1700 square foot, single story home, with base case insulation and air leakage levels equivalent to the average home built in 1965. Reference data sources include the U.S. Dept. of Commerce and the Lawrence Berkeley National Laboratory (LBL) "Energy Savers Program". A summary of the calculation details is available upon request.

(3) According to the National Energy Assistance Directors' Association. (http://www.neada.org)

(4) The McKinsey Global Institute (http://www.mckinseyquarterly.com/article_abstract.aspx?ar=1911&L2=3).

(5) For qualified energy-efficient improvements. Refer to the Energy Policy Act of 2005 and check with your accountant or the IRS for further details on how to claim your tax credit.

The color PINK is a registered trademark of Owens Corning.

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