Chuck Murphy of Murphy Constructors has used the material on both residential and warehouse projects.

"I think it's gaining popularity, and here's one reason why: in order to meet the energy code, a builder has to put some type of rigid insulation outside and inside the foundation," he said. "By using insulated concrete forms, you get your exterior insulation. And on the interior basement wall you don't have to apply additional quilted material to the concrete for insulation. The ICF handles both. "

Other benefits upfront include the fact that the process used to pour concrete into the Styrofoam forms can be handled effectively by unskilled laborers rather than by higher dollar form setters. Once in place, ICF walls can also be stuccoed or covered with masonry.

On the back end, the energy savings in lower utility bills and likely federal tax or carbon credits make the material significant cost-effective. "That's what tips the scale for me," Murhpy said.

Another ICF advocate is Barry Mawson, senior project manager for the University of Colorado Colorado Springs. He recently oversaw construction of a 40,000-square-foot recreation center on campus that used insulated concrete for its exterior walls.