Abstract: An inflatable, self-standing, transparent insulating jacket for a hot water tank is disclosed. The jacket is comprised of an inflatable hood, a platform and an attachment means. The hood surrounds, but is spaced outwardly from, the hot water tank. The hood comprises transparent inner and outer members each defining a cylindrical chamber and having an open end and a peripheral edge surround the open end. The inner and outer member edges are bonded together at or near their respective peripheral edges so as to form an impermeable fluid tight inflatable pocket between the members. A valve is provided on the outer member to inflate and deflate the inflatable pocket. The platform, having an outer diameter greater than the outer diameter of the hood, is disposed beneath the hot water tank. The attachment means, preferably a zipper type fastener, secures the hood to the platform.