How much does a propane tank cost?
There are two types of propane tanks — portable and stationary. Portable propane tanks are used primarily for portable heaters, stoves, and grills. This article will discuss stationary propane tanks that are used to supply fuel for a home?s propane-powered appliances.
Propane is a popular source of energy for homes, including furnaces, water heaters, appliances, fireplaces, and generators. It is stored in a liquefied state in a pressurized propane tank until ready for use, at which time it is converted to gas. Propane tanks for the home can be installed either above or below ground.
Propane tanks are available in a range of sizes to accommodate your needs. Common sizes for above ground tanks are 120, 250, 500, or 1,000 gallon, while underground tanks are usually either 500 or 1,000 gallons. The size of the tank needed depends on how much propane will be used, which varies by size of the home, climate, and the number of appliances powered by propane. Another factor in determining the tank size will be how often you would like the tank refilled.
Tanks can be purchased or leased. Purchasing a tank tends to be more expensive, but does allow the owner to purchase propane from any propane supplier, which allows price comparisons and cost savings. When leasing a tank, propane must be purchased from the company who owns the tank.
Typical Costs for a 120-Gallon Above Ground Propane Tank
Typical Costs for a 250-Gallon Above Ground Propane Tank
Typical Costs for a 500-Gallon Above Ground Propane Tank
Typical Costs for a 1,000-Gallon Above Ground Propane Tank
Typical Costs for a 500-Gallon Below Ground Propane Tank
Typical Costs for a 1,000-Gallon Below Ground Propane Tank
Typically Included in the Purchase Price of the Tank:
Typical Cost to Lease a Propane Tank
While some companies charge an annual lease fee, others will waive the fee if you agree to purchase a minimum amount of propane per year. If you don?t use this contractually agreed upon amount that you?ll have to pay the lease fee or a fine. Lease fees can range from $40 - $250, depending on the size and whether it is above or below ground.
Typically included in the lease agreement:*
Additional Costs for Propane Tanks
Other Things to Keep In Mind When Purchasing or Renting a Propane Tank
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