HPWH Install

So, I have a propane water heater, from when my house was built in 2008. Apparently propane was a crap ton (actual measurement) cheaper in 2008, than 2015.

According to the yellow sticker, it burns 265 gallons of propane a year to heat water. That's about $800 considering my local propane prices.

(Back Story) My dog destroyed our A/C unit by using it for the past 4 years as a urinal. (massive corrosion, just DESTROYED) So, we replaced it with a heat pump, which now cools AND heats the house. The primary heat is now a heat pump, and the backup is a propane furnace for when the heat pump can't hack it, or it's super cold out. (PA)

Anyway, that's the thing that got me thinking about home energy costs, and trying to save some money (actually buying a Tesla Model S got me thinking about my electric bill but that's another story). (I have a Solar City story too). The heat pump, I'm hoping, saves us $500/year, using electricity (11.8c kWh) vs propane $$$.

Finally, back to the Water Heater. $800/year, for hot water? That's just stupid.
I found they make Heat Pump based Water Heaters. According to the energy sticker, it uses... $190 / year! (12c kWh). that's close enough to my 11.8 for me to save over $600/year!

It wasn't a cheap water heater at $1,100, but a 10% coupon, 5% cash back, and $400 PP&L rebate made it... $540!

This thing pays for it's self in ONE year, with a $600/year savings after that.

How is anyone NOT buying these things?

Anyway, the real reason I'm here. Installation. I will not be removing my old water heater, as it works fine, and propane may one day be $0.50/gallon, right? (lol).

So, I'll be installing a valve on the IN to the old one (a valve on the OUT is currently in place).

Draining the old one, and installing the new one next to it, with a vale on the in and out, so I can run either system I chose based on energy price. (I don't really see propane ever dropping, but why rip out a working system)?

So, the manual says it's 30 amp... does that mean I need a 30 amp breaker? 10/2 wire good?

It needs a drain, unlike my current one (also needs 240v unlike my current one), but I'm hoping this isn't too hard of an install, and I can leave the old one running until the new one is in and solid, so I don't feel rushed to get this done...

anyone here install one of these? It's going in the basement, which was always kind of humid. This thing's side effect is that it cools and dries the room it's in, so that's kind of a bonus for a basement...

In case you are wondering: http://www.whirlpoolwaterheaters.com/products/electric-water-heaters/hpse2k50hd045v/

The logic sounds correct in the summer if you are heating water and cooling your house with the same device. I would think in that case you would want the tank on the main floor or duct the air out of and back into the living space. In the winter it could be counter productive taking air you heated and then removing the heat to heat water and sending cold air out to cool a room you are trying to heat. In the case of propane heat all lost heat in the winter is warming the house. Putting waste heat to work is always a good thing.

You could always get a gas engine and run it on the propane use the waste heat to heat water and the output of the engine to an alternator to charge your new car.

I should maybe mention I have a 500 gallon underground propane tank that's leased, and do have to buy propane. Not that I could get around that anyway, as the heat pump would never keep up... 1, it's not big enough and 2. maybe I should have considered a bigger one...

If I ever do anything else it would be a complete geothermal system, that would heat/cool the house, and provide hot water. that seems like the absolute best way to do this.

To Buds point about the air, with a little duct work you could change the air system for the time of the year. I wouldn't expect the old tank to last much past the warrentee, whether in use or not.
A freind of mine has two gas water tanks because of the size of the house and a jetted tub, after the thrill of the tub wore off one tank was turned off to save gas. When the one in use failed (leaked), He turned it off and started the other. The other one failed 2 month later.

The existing propane one was put in, 2008, so it's now... 7 years old. My only point of reference is a 20 year old one at my parents house which lasted... nearly 20 years before it died. (just stopped heating water)

I'll leave the old one in for now, but yeah if it ever stopped working, I'd remove it.

The new one will occupy a different location in the basement, as it needs a drain, and the wall the current water heater is on does not have a drain, so this will go on the opposite side of the basement. Not to mention the power to the current one is only 120, and this needs 240, which is also along the other wall...

I would think you could just do a loop from the old to the new and back to the exsisting plumbing and turn the old one off.