In addressing the challenges of low utilization， high costs， and complex processes in solid waste recycling， a novel plan for preparing building insulation material is developed. This strategy employs electrolytic manganese residue （EMR） and fly ash （FA） as silicate materials， uses water glass （WG） as an alkaline activator， and incorporates a hydrogen peroxide foaming technique to produce insulation materials with superior mechanical properties at reduced costs. The findings reveal that WG effectively molds the material and stabilizes the foam within a certain usage range. The acceptable incorporation ranges for EMR spans from 0% to 60%， with an optimal addition of 30% and a ceiling of 60%. At 30% EMR， with 355.4~465.4 g of WG， 8 g of hydrogen peroxide， and 2 g of stabilizing agent， the material exhibits thermal conductivity from 0.084 to 0.093 W·m-1·K-1， compressive strength from 0.92 to 1.43 MPa， and density from 457 to 475 kg·m-3. The cost for the precursor materials per cubic meter of this innovative insulation material is roughly 750￥. The cost of this new material is approximately 24% of that of conventional materials using kaolinite as the precursor material and sodium hydroxide with WG as activators. Furthermore， this insulation material demonstrates low toxic leachate concentrations and effectively immobilizes heavy metals.