Propane vs Electric for Hot Water Heater?

[ssmith8523]

Hi,
I am replacing my oil-fired furnace, that has my hot water coil inside, with a heat pump. I got an estimate on a propane-fired Rinnai tankless (natural gas not available). But in considering the $3+/gal cost for propane and the premium price of the installed Rinnai compared to an electric tank, I'm not sure it makes sense. What do you experts think? I haven't found anything online that lets me compare electric tank to propane tankless for energy costs in my area (Maryland).

Thank you for sharing your expertise.

[Jack2007]

Hi,
I am replacing my oil-fired furnace, that has my hot water coil inside, with a heat pump. I got an estimate on a propane-fired Rinnai tankless (natural gas not available). But in considering the $3+/gal cost for propane and the premium price of the installed Rinnai compared to an electric tank, I'm not sure it makes sense. What do you experts think? I haven't found anything online that lets me compare electric tank to propane tankless for energy costs in my area (Maryland).

Thank you for sharing your expertise.
I'm certainly NOT an expert, I do have a Rinnai propane tankless installed in my home. It uses a very small amount of propane. Can't help with comparing against electric, but it is saving me $75/month over a 80 gal electric tank. It also uses 75 watts max, so I have a 1500VA computer backup for those times my electric goes out (3 to 6 times per year).
.

[firefly]

I too have an LP Rinnai tankless. My propane use for water, stove, and gas logs for family of four is approx. 175 gallons/year. There is more upfront cost but there is versatility that a tank cannot offer as well. The tankless can be dialed down to the temp you actually use since it won't run out. A tank has to be kept hot enough for all of your needs until it can regenerate. Also the tank is heating 24/7 need it or not. I would never go back to a tank as a primary source. I don't think you would be disappointed.