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Hot water accounts for 47% of the power used by an average New Zealand home. A hot water cylinder wrap can reduce that percentage substantially and save up to 10% on your electricity bill!
Many households use the cylinder cupboard for drying clothes in. Because your unwrapped cylinder loses heat every minute, it is more energy-efficient to install a wrap and dry clothes outside or in the dryer for several minutes than it is to lose heat every minute of the year. If you install a wrap and switch to using the dryer two hours a week, you can save up to 2.5 times the energy!
Hot water cylinder wraps can only be installed on electric hot water cylinders. You can install the wrap yourself.
If you have an A-grade cylinder (there should be an 'A' on the side of the cylinder) it may not be economically worth installing a wrap, as it is quite well insulated already. However, these cylinders have only been on the market in recent years. If your cylinder is older it is not likely to be an A-grade - so a wrap will save power and money. If you touch your cylinder and feel any warmth - even just a little - a wrap will retain this heat.