The purpose of this study was to analyze the effect of phase change components on the properties of geopolymer foams. Geopolymer foams are lightweight foamed geopolymers that are characterized by a high degree of porosity. Phase change materials, on the other hand, are compounds that, when added to a material, allow it to absorb, store, and then release large amounts of energy. MikroCaps (MikroCaps, Slovenia), GR42, and PX25 (Rubitherm, Germany) were introduced as phase-change materials at 15% by weight. The geopolymer materials were produced based on silica fly ash from the Skawina Heat and Power Plant, and hydrogen peroxide H2O2 was used to foam the geopolymer structure. The PCM geopolymer composites were cured at 60°C. The produced materials were tested for physical, chemical, and thermal properties. The tests included oxide and mineral composition analysis of the base material, PCM particle size analysis, density and porosity tests of the foams, water leachability tests, thermal tests (l, Cv, Cp, a), and structure and texture analysis. The most key tests to confirm the performance of phase change materials were thermal tests. With the introduction of PCM, volumetric heat capacity increased by as much as 41%, specific heat by 45%, and thermal diffusivity decreased by 23%. The results confirm the great potential of geopolymer composites as modern insulation materials for buildings and structures.