Prefabricated insulation wall panels for construction of a concrete wall include two elongated studs, each having a planar web section and inner and outer flanges, and one or two insulation boards vertically disposed between the two studs. The web section includes multiple through-holes spaced apart in the body portion of the stud, disposed off center in a transverse direction and closer to the inner flange than to the outer flange. The insulation board is thinner than the width of the wed section. The inner surface of the insulation board is disposed against the inner flanges of the studs, with two side edges of the insulation board covering the through-holes on the web section of each stud, thus establishing a distance between the outer surface of the insulation board and the outer flanges of the studs through the body portion of the studs.