Among the super insulating materials, aerogel has interesting properties: very low thermal conductivity and density, resistance to high temperatures and transparency. It is a rather expensive material, but incentives in the field can improve its economic attractiveness. Starting from this, the thermal behavior of a test building entirely insulated with aerogel panels was investigated through an extended experimental campaign. A dynamic simulation model of a case study building was generated to better comprehend the energy savings obtained through aerogel in terms of energy demand over a whole year. The investigation was completed by computing the carbon and energy payback times of various retrofit strategies through a life cycle assessment approach, as well as by a cost-benefit analysis through a probabilistic financial framework. Compared to conventional insulation materials, aerogel is characterized by a higher energy and carbon payback time, but it guarantees better environmental performance in the whole life cycle. From an economic-financial perspective, the aerogel retrofit is the best in the current tax incentive scenario. However, due to its higher lump-sum investment, aerogel’s net present value is very sensitive to tax deductions, and it is riskier than the best comparable materials in less favorable tax scenarios.
