I would highly recommend having an energy audit done before doing work. While you may be right on about needing the insulation (and it certainly wouldn't hurt), air sealing is a MUCH bigger deal normally. A good auditor will tell you where the leaks are and how you can go about fixing them.
That being said, I recently went to a speaker who talked about doing deep energy retrofits on existing homes. Their target was ~70% reduction in energy usage and they were achieving it mainly by putting 4 inches of polystyrene on the outside of the house and then residing it. They of course did air sealing along with that via tyvek and other means.
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Last edited by Daox; 07-25-11 at 03:04 PM..
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