If you can, look at the tankless water heaters - for people on propane tanks, they save a tremendous amount of money, not reheating the same water over and over. Three friends who live up at Mammoth Mtn, where the propane costs are significantly higher than here, put in the tankless heaters not long after I did mine (and raved about) and noted impressive savings. One is a caterer so uses a lot of hot water all year long and estimates she cut her propane use by 1/3, which is a fair amount of money. I haven't had my tankless (natural gas here) water heater long enough to see how much I may be saving. However, there is great joy in NEVER running out of hot water!