Abstract: An insulated concrete wall includes a first form board, a second form board, a plurality of spacers, a plurality of rebar rods, a quantity of poured concrete and at least one insulation sheet. Each spacer includes at least one vertical passage for receiving a vertical rebar rod and a horizontal passage for receiving a horizontal rebar rod. The plurality of spacers are attached between the first and second form boards to create a concrete cavity. The quantity of concrete is poured into the cavity. The sheet of insulation may be attached to one or both form boards. The at least one insulated sheet may be replaced by an additional form board and the plurality of spacers. The additional form board would create an additional cavity, which would be filled with an insulation material. Alternatively, the two outer cavities may be filled with concrete and the center cavity filled with insulation.