That's about what a high btu tankless costs. Of course, where you live, you probably don't have NG and you may have chosen not to put in a propane tank otherwise, so you would need to figure those costs as well.
I was putting in propane no matter what as I can't stand electric stoves.
You're right, Lou, I don't have NG. I do have a buried 500 gal propane tank for my generator and built-in BBQ. At $4.00 a gallon, I wouldn't want to heat water with it.
I was going to use it for cooking, but instead put in an induction cooktop. I like cooking with it even better than gas.
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