The energy deposition of wire is a critical parameter in determining the effectiveness of the explosion during the electrical wire explosion. Based on developing a continuous wire-feeding electrical explosion device, a method was proposed to increase wire energy deposition with electrical explosion carrier wire. According to the phase transition theory of metal wire in the process of electrical explosion and the nonlinear time-varying nature of bypass parallel resistance, the resistance-energy segmentation model of wire load was established. The electrical explosion experiments were carried out separately using the carrier and bare wire. The discharge waveforms during the wire electrical explosion process were collected synchronously and analyzed to investigate the mechanism associated with the electrical explosion of the carrier wire and the variation of the energy deposition. The results show that in the early stage of wire electrical explosion, due to the insulation of the carrier ribbon, the parallel bypass resistance is greater than that of the bare wire, thus the resistance of the carrier wire is higher than that of the bare wire. With the progress of ohmic heating, the liquid metal in the carrier wire accumulates from both ends to the middle in the axial direction, which accelerates the phase transition process of electrical explosion, reduces the equivalent resistance, delays the breakdown process along the surface, and obtains more energy.