A thermal insulation jacket system. The thermal insulation jacket system includes a thermal insulation jacket configured to surround a valve, a plurality of detection devices and a computing device. Each detection device is configured to detect a different temperature associated with the valve. The computing device is coupled to the thermal insulation jacket and is communicably connected to the plurality of detection devices. The computing device is configured to calculate real-time energy savings attributable to the thermal insulation jacket and perform at least one diagnostic analysis associated with the valve.
