In this study, the usability of Vacuum Insulation Panels (VIP) was assessed by determining the optimum insulation thickness and associated fuel costs, insulation costs, total costs, energy gain, and payback periods of four conventional insulation materials and VIPs which are applied in four different cities in four different climate regions of Turkey. Calculations were done by lifetime cost analysis (LCCA). Payback periods were calculated for five different energy source and the amount of energy saving were calculated for a 10-year service period. The results show that the conventional insulation materials provide significant energy saving in all four climate regions and pay back in about two years. On the other hand, the energy saving and payback periods of VIPs changes significantly by the energy source used and the climate of the region. VIPs offers a significant energy saving and have a time of payback period of as low as two years in regions where the fuel unit cost and heating degree day number are high. However it is not reasonable to use VIPs where the unit cost of fuel and heating degree day number are low since it requires a long time to payback.