Would you like to save money on your heating and air conditioning bills? Are you looking for a better way to heat your home?
If so, using propane is a great alternative to traditional heating methods. Perhaps the one setback to using propane is the cost of propane tanks. There is no denying that a home propane tank cost money.
If this seems like a deal-breaker for you, then let’s take a look at a few ways to soften the blow of propane tank cost. Read on to learn more!
Factors That Affect the Price Range
The cost for a home propane tank varies depending on the size, brand, and whether you are purchasing it outright or leasing it from a supplier. Factors that affect the price range include the size of the tank you select. Generally, the larger the tank, the higher the price.
The brand (name-brand tanks often come with a higher price tag), and additional services such as installation and maintenance are also factors. On average, a home propane tank can range anywhere from $600 to $1,800, depending on the specifics of your purchase.
For instance, purchasing a smaller tank outright could cost around $600, while renting a larger tank with installation and maintenance services could cost up to $1,800.
Read Also:
Calculating the Cost per Gallon
Generally, the average cost for a new or used 500-gallon tank typically ranges from $1,200 to $2,400, while a 1000-gallon tank ranges from $2,400 to $4,200.
Calculating the cost per gallon is a great way to compare the different propane tank options. Usually, the cost per gallon when filling a 500-gallon tank ranges from $0.95 to $1.50, while a 1000-gallon tank can range from $0.90 to $1.30 per gallon.
Once you take the time to compare the prices of each propane tank option, you will be able to make an educated decision about which propane tank best fits your needs.
Installation Costs
Installing a propane tank usually costs around $800 to $1,400 for a 100-gallon tank and can climb higher for larger-capacity tanks.
The installation cost also depends on several factors, such as whether you choose to have a propane pro install the appliance, the type of tank being installed, and the difficulty of the installation.
Factors such as terrain, soil type, local regulations, and the presence of any hazardous materials may all affect the installation costs.
If a professional is required to perform all installation tasks related to gas connections, venting, and safety controls, then the cost can run significantly higher.
Maintenance and Refueling Costs
When it comes to maintenance, the cost of an annual inspection and recertification is usually around $50. The cost of refueling also varies depending on the current cost of propane per gallon, which can range from roughly $2 to $4.
In most cases, the cost of maintenance and refueling is lower than that of electricity. Thus, overall, the cost of owning a propane tank for the home is relatively low.
For more information about propane installation and maintenance, you may check it out here.
Buy the Best Home Propane Tank
The cost of a home propane tank can vary greatly depending on size, brand, features, and installation costs. Prices can range anywhere from under $1,000 to several thousand dollars.
If you’re looking to save money, go for the simpler types of propane tank designs rather than complicated ones.
Did you find this article helpful? Check out the rest of our blog.
