Posted By jonr on 08 Jul 2013 09:29 AM
Post #2 is a good suggestion. You might consider using 2" EPS to save initial cost over 2" XPS.
And to save 99% on the lifecycle global warming potential of blowing agents used to make the foam. At 2" the HFC blowing agents' GWP would likely exceed the 50 year carbon footprint of the energy savings in a FL location! With EPS you're looking at sub-5 year "payback" on greenhouse gases.
But 1.5" foil-faced polyiso would also get you there for about the same money as 2" of EPS with a similarly benign GWP, and much easier to air-seal well using FSK tape. (Polyiso also has a higher kindling temp than EPS, and won't drip or melt even while burning- it's generally safer/better from a fire spread point of view.)
At R10 the insulating sheathing has a very long financial payback in a FL location. With R13 cavity fill and adding 1/2" plywood or OSB sheathing the whole-assembly R runs about R9-R10, and would meet code min in FL. An inch of polyiso (R6) still has a long-term financial rationale from an energy use point of view, and is still a very decent thermal break over 2x4 framing for the climate, delivering ~R15-R16 "whole wall", which is about right.
See Table 2, p10 of this document. Air sealing the gypsum to the framing and to all electrical & plumbing penetrations is worth it while you have it open, or you could take an open-cell spray foam approach, which is a cost adder, but would make the place VERY tight without a lot of detailing labor. If it's a DIY and you're discounting the labor the foam approach may not be worth it, but invest in a 12 board foot FrothPak or two for sealing over the electric boxes, etc. If insulating with batts, go with un-faced goods, and take the time to tuck the corners & edges in then tug it back out slightly proud of the studs before closing it up, to ensure a complete cavity fill, with no voids or thermal-bypass channels around the batts. Similarly trim for snug fit around electrical & plumbing.