I'm surprised at the high price the OP is quoting, last spring (March) in Texas I got a 30 lb. (around 7.1 gallons) cylinder filled for $18. I expected a much higher price after the tough winter that inflated the pricing. In answer to the question about propane vs. electric for water heating, I did some calcs last year and found that at at 15cents/kwh. it was still less costly to use electricity because 100% of the electrical energy goes into heating compared to some losses using propane. Google the net to find some easy to use calculators.