Measure the height and width of your interior basement walls, and record the measurements. Use these to determine the number of panels you'll need. Panels are typically 4 feet by 8 feet in size.
Place a panel against the wall, starting at one corner. If you need to trim the panels to go around obstructions or other obstacles, place a straight edge onto the panel at the appropriate location. Score the panel with a utility knife, and then simply snap off the excess foam. Mark the outer edge of the panel on the wall, and then remove the panel.
Apply construction adhesive with a caulking gun onto the wall in an S-shaped pattern at the panel's intended location. Place the panel against the wall, and press it firmly into the adhesive until it sticks.
Place your next panel against the wall, butting up against the first panel. Trim as necessary, and apply to the wall with adhesive. Continue in this fashion until the walls are covered.
Place strips of vinyl tape onto the seams between the foam panels.