GHG Emissions, Commercial, Solar  -  November 14, 2024

Installed Building Products Increases RE Usage

Installed Building Products Inc., an installer of insulation and complementary building products, announced the company increased energy usage from carbon-free electricity supplies to over 35% of its total usage.

In 2023, the company used 24.3 million kWh of electricity, including 8.6 million kWh of carbon-free electricity supply. Carbon-producing electricity kWh per facilities' average square footage declined to 3.4 in 2023, compared to
5.5 in the baseline year of 2020. 

IBP continues to transition to additional electricity sourcing options and increase use of energy-efficient items at its  locations with the intent to cut its carbon-producing electricity usage in half by 2030 from the 2020 baseline of 5.5 kWh per average square foot of its locations.

The company also lowered CO2 emissions from spray foam applications from the unadjusted 2020 baseline by approximately 55%, while the quantity of spray foam materials used in insulation have increased nearly 20% over the same period, and diverted over 120,000 metric tons of CO2 emissions from the atmosphere using recycled paper.

Details were released in the company’s 2024 Environmental, Social and Governance (ESG) report, which highlights important milestones the company achieved during the past year, as well as the company’s ongoing ESG policies and commitment to the environment, its employees, and its communities by promoting a more sustainable and equitable future.

“Earlier this year, IBP celebrated 10 years as a publicly traded company. During those 10 years, we have had a successful track record of executing on our growth strategy, while delivering on our financial expectations. At the time of our public offering in 2014, we had approximately 3,200 employees, with a national residential insulation market share of approximately 16%. Presently, we have over 11,000 employees and service approximately 30% of the residential insulation market. This growth has enabled us to further our efforts in improving the lives and opportunities of our employees and increase the reach of our environmental efforts,” said Jeff Edwards, Chairman, President and CEO, in a statement.