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If you've been able to calculate the energy consumption of boiling a kettle and then know how long it's on the hob for Vs the energy draw of your slow cooker plus all the energy that went into making it and shipping it from China....then maybe, I'm not sure. But good point, yes there's definitely heat escaping for sure.
Edit I got a bag of Silca for £25 on old exchange rates and have done a dozen batches of chains in. Will keep going with it until I notice the results decline
Boil in a bag is less energy efficient. You can buy a second-hand crock pot or wax warmer.