So I got an Intex spa for me and my wife for Christmas. I had wanted to get some extruded polystyrene (XPS) foam board to go under the spa, but I ordered the spa
too late and was running out of time to get it set up before Christmas, so I set it up directly on the concrete floor of our garage with the meager "bubble wrap" ground cover they supply (it seriously is bubble wrap with a slightly tougher skin on one side). I figured it wasn't ideal because of the heat loss, but I went with it. I set up the spa the Friday before Christmas (Dec 22nd). The spa has a meager 1300 W heater, and it took two days to get up to 100 °F from ~60 °F starting temp, becoming extremely slow the last few degrees. Once there, it could hold it, but with the cover off and no bubbles it could not hold temp, and would drop ~4 °F within an hour, at roughly 50 °F ambient air temp. I figured I'd add insulation the first time I changed the water...
Then I got my power bill. I was somewhat shocked to see it had jumped from 411 kWh to 797 kWh from the Dec to Jan bill, and was $106. And the spa was only running two weeks on that bill. I decided I was going to add insulation now. Unfortunately that means I have to go through the initial water setup only 3 weeks after I did it the first time, but it should really help. As the water heater was reheating after I dumped it into the spa (natural gas is roughly 2.25x cheaper than electric), I did some rough calculations on heat loss:

Rough Calcs by jseyfert3, on Flickr
If you can't follow my scribbles, basically I calculated the heat loss from just the bottom of the spa was ~565 W when it was sitting on the concrete, and would be mere ~43 W with the 1.5" layer of foam I added. That's a savings of ~521 W, or 375 kWh/month, which at my $0.11/kWh is about $41/month savings, or just a little bit less than the cost of the foam. Now, there's a lot of assumptions and simplifications I did in these calculations, but it should be roughly in the neighborhood. If I could have found my wattmeter I could have gotten a much better before/after comparison, but unfortunately I couldn't find it.
Here is the spa refilling on top of the foam. I'll probably trim off some of the corners at some point.

Spa on Insulation by jseyfert3, on Flickr
Bottom line: If you have an inflatable spa, buy some XPS foam and put it under the spa right away. You'll get your money back in short order.
too late and was running out of time to get it set up before Christmas, so I set it up directly on the concrete floor of our garage with the meager "bubble wrap" ground cover they supply (it seriously is bubble wrap with a slightly tougher skin on one side). I figured it wasn't ideal because of the heat loss, but I went with it. I set up the spa the Friday before Christmas (Dec 22nd). The spa has a meager 1300 W heater, and it took two days to get up to 100 °F from ~60 °F starting temp, becoming extremely slow the last few degrees. Once there, it could hold it, but with the cover off and no bubbles it could not hold temp, and would drop ~4 °F within an hour, at roughly 50 °F ambient air temp. I figured I'd add insulation the first time I changed the water...
Then I got my power bill. I was somewhat shocked to see it had jumped from 411 kWh to 797 kWh from the Dec to Jan bill, and was $106. And the spa was only running two weeks on that bill. I decided I was going to add insulation now. Unfortunately that means I have to go through the initial water setup only 3 weeks after I did it the first time, but it should really help. As the water heater was reheating after I dumped it into the spa (natural gas is roughly 2.25x cheaper than electric), I did some rough calculations on heat loss:

Rough Calcs by jseyfert3, on Flickr
If you can't follow my scribbles, basically I calculated the heat loss from just the bottom of the spa was ~565 W when it was sitting on the concrete, and would be mere ~43 W with the 1.5" layer of foam I added. That's a savings of ~521 W, or 375 kWh/month, which at my $0.11/kWh is about $41/month savings, or just a little bit less than the cost of the foam. Now, there's a lot of assumptions and simplifications I did in these calculations, but it should be roughly in the neighborhood. If I could have found my wattmeter I could have gotten a much better before/after comparison, but unfortunately I couldn't find it.
Here is the spa refilling on top of the foam. I'll probably trim off some of the corners at some point.

Spa on Insulation by jseyfert3, on Flickr
Bottom line: If you have an inflatable spa, buy some XPS foam and put it under the spa right away. You'll get your money back in short order.