Buying or Leasing Propane Tank
Choosing to buy or lease (or rent) a propane tank is a major determiner of the overall cost of the propane tank installation. Buying a propane tank has a high startup cost, plus you’ll be expected to pay all maintenance costs. Owning your propane tank provides you the flexibility to contract out for propane service from any propane company.
Leasing or renting a propane tank can be a good option if you don’t expect to stay on the property for the long term. Leasing can be ideal if you simply don’t want to outlay money on a propane tank—especially since propane tanks add little or nothing to a home’s resale value.
Length of Pipe
The length of the pipe running from the propane tank to the entry point of the house influences the cost of installing a propane tank. The larger the tank, the farther away from the house it must be installed—per local code. A 1,000-gallon propane tank may need to be a minimum of 25 feet from the house.
Location
An exposed propane tank will be less expensive than a buried tank. A buried propane tank costs more to bury, plus maintenance and repair costs down the road will be higher.
In addition, locating the propane tank conveniently for refilling is important since the delivery truck’s hoses have limited lengths. Generally, the propane tank should be located no more than 80 feet away from a road, driveway, or another hard surface for the propane truck to drive onto.
