Long answer: It depends.
With an existing 1" gap, adding Reflectix will leave you with a 3\4" gap. Far less than the recommended 2", but better than nothing.
The main factor that people rarely consider is whether they are trying to keep heat out or keep it in. You need the exposed, shiny side facing the source of the heat.
Assuming you want to keep the heat out.
Your proposed structure will be more effective than insulation alone. But then the question becomes: Will that difference in effectiveness be worth the high cost of all that Reflectix? The hotter the environment where you expect to be most of the time, the more "worth it" it will be.
Yes, the Reflectix will "trap" heat in that small, 3\4" gap, but it will be heat that is then more likely to escape back out through the metal wall. The metal will get hot in the sun. It will both radiate heat via infrared AND heat the air in the gap by conduction. A significant portion of the infrared will be reflected back to the metal wall where a lot of it will be reabsorbed, heating the metal wall more. This does produce a bit of a runaway effect, but it still reduces the amount of heat that makes it's way in, through the insulation. No heat is actually generated in any of these processes. It just moved from one place to another. When the metal wall of the van gets hotter, there is more of a temperature difference between it and the outside air. Therefore, it releases more heat to the atmosphere. It also will release more heat as infrared back out to the universe. In the end, it definitely WILL reduce the heat that gets into your van. However, that may be a relatively small amount, compared to insulation alone.
Many people erroneously think that, if the wall of the van is getting hotter, then more heat must be going into the van. However, it is only hotter precisely because more heat is being forced back out through that same metal wall.
In the end, you may be better off investing your money in sun shades to keep that sun from hitting your van in the first place.
If you want to keep heat in:
Nope. Your proposed setup will not work for you. The absolute best way to use Reflectix to keep heat in is to have it completed exposed to the interior of your van, where you can see the shiny side. Then it reflects your body heat right back into you.
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