The more insulation on your tank the less heat it will loose. Reheating water that has cooled while sitting over night etc.. is very wasteful. Electric tanks you can pack around all you want, gas you need to be careful of, do not restrict airflow to the burner or get it too close to the fire under or vent above.
I don't know why I don't see much insulation on hot water pipes? Insulate those suckers too. If you run hot water and the pipe gets hot to the touch you are losing heat there!
Most people mix hot and cold water at the sink or tub anyway, so the hotter the water is when it gets there the less hot you can run and the more cold you can run, cold water does not cost anything to heat.
Adding a stripped down tank in the water supply before the hot water tank almost always helps if you have the room for it. Room tempature water is almost always warmer than that from a well or city mains so it takes less to heat it.
If you have both an electric tank and gas tank then you can choose which to run when
If durring the winter propane sky rockets turn off the gas water tank, well insulated it should hold heat for a very long time so it can be extra storage of the electrically heated water. If electric goes up and gas falls come summer, fire up the propane heater and shut off the electric one. The electric tank can then just sit in the line before the gas heater doing nothing.
Install a bare tank before the other 2 as a preheater.
I often wonder why I never see any copper tubing on the vent pipe above a gas water heater? There is allot of wasted heat going up that pipe, why not wrap a copper water pipe around it to colect what ever heat you can before the water enters the tank.
Don't restrict the vent causing fumes to build in the house, but I don't think stealing a bit of heat would cause any problems either.
Most the time when I get scrap water tanks the only thing wrong is they were never cleaned and full of sedimant. Most never leak, though I have had a couple and it's rare. I take all the free tanks I can get normally and sometime even buy them from the scrap yards. Most have fittings, valves, pipes, and brass hardware still on them.
Sort of a small gold mine for $3
Cleaned out the tanks are useful for many things including preheaters when striped down. If clean the fiberglass insulation wrapped around them is great for insulating around hot water tanks in closets, pipes, and other things.