It's bound to help a bit, but I doubt if any insulating cover would resist the cold for very long if the temperature gradient was large. There's a bit of "devil or deep blue sea" about this issue. For performance, ideally it's best to start with a battery that's been charged and kept indoors and taken out at 20 to 25 degrees C, then installed with a waterproof insulating cover.Do you think insulation with a water/windproof outer layer would be best then? On reflection, I think the risk of condensation is lower than I first thought.
Stuart.
On the other hand, higher temperatures reduce a battery's life through capacity loss, particularly that of Li-ion batteries. So we're beat either way, and I just charge indoors in a fairly cool room and leave it at that, accepting battery limitations.
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