I just installed a propane Bosch tankless in place of a 40 gal. Love it. I did have to run a HUGE gas line, the one for your current gas tank water heater will not cut it (that's according to the manual...I didn't have an existing gas line, so I just used the size recommended in the manual). I used the corrugated stainless pipe, very easy for the average DIY as far as gas lines go. My electric bill dropped by 1/3. I had to use the blower-powered horizontal vent, which required some serious fabrication. For DIY, in place of an existing electric unit, my total for the install, including the heater came to about twice the cost of the heater or $1600. For me, this means the payback is 32 months; this includes the increased propane usage, but does not include the sweet rebate from the power co (no inspection required).
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