This is something I have put a lot of thought into recently. A lot of my system is in the basement in Wisconsin, so during the winter I am paying a boat load to heat it all. I chose to do a number of things to try to save anywhere I can. Current system is about 400 gallons and will grow a bit from there likely to about 600 total water volume before too long.
1. Pink foam board insulation and rolls of insulation around any tanks I could including underneath where possible.
2. Covering any open water I could. Basically anywhere I don't have corals. This is helping save on evaporation which not only cools, but also raises the humidity in the basement and causes my dehumidifier to run more often aka more electricity.
3. Heating itself. I decided to implement a home hot water recirculating system to heat my system instead of running a pile of electric heaters. I am in the process of implementing this, but it cost me ~$500 to acquire everything for the build(pump, solenoid, ranco temp controllers, valves, pex, insulation, etc.). Based on what I am paying now to heat the system I estimate the new setup will pay for itself in 16-24 months. Gas is cheap and my hot water heater is currently heating water all day long that I don't use, so repurposing that heat on the tank will save me greatly.
There are a few added benefits to this system as well. I would like to keep my system at a higher temp, but haven't because of the added cost. I will now be able to bring my temperature up a couple degrees. It will obviously reduce my overall need for electricity, which is nice because I am working with only so many circuits in the basement. I can only use some of the newly available load however, as some of the electric heaters will still be in place as backup should the hot water heater go down. The electric heaters themselves, they are cheap and prone to failure/breaking/shorting/etc. Not having a handful of them running all the time just waiting to fail will give me peace of mind. Not to mention replacement costs when they do fail.