In the United States, 39% of total energy is consumed by the building sector, 20% of the total is attributed to residential buildings (U.S. Energy Information Administration, 2018). New, highperformance homes incorporate a combination of tight building envelopes, mechanical ventilation, and efficient components to ensure comfort, adequate airflow, and moisture control. These systems work together to create energy efficient homes that use measures to manage moisture, comfort, energy efficiency, and the indoor environment. Older homes, built before 1992 when the U.S. Department of Energy's Building Energy Codes Program was established represent approximately 68% of residential building stock in the country and often have significant air leakage and inadequate insulation. Homes with little to no air sealing or insulation have heating and cooling losses that can represent a substantial portion of utility bills. Done correctly, deep energy retrofits can significantly improve the energy performance of a home's thermal envelope, and increase homeowner comfort and health. This literature review summarizes current practices for exterior wall retrofits for existing homes, provides an overview of techno-economic approaches to investigating residential wall systems, and discusses thermal and hygrothermal modeling strategies. This literature review is part of a larger effort to identify state-of-the-art technologies for energy efficient wall retrofit systems that are suitable for cold and very cold climate zones. Retrofit wall systems that can be applied over existing siding offer a possible approach to reducing installation costs.