We got a GeoSpring Hybrid Water Heater last year.  Switched from LP  to electric, and did not notice an increase in my electric bill.  It uses a heatpump to heat up the water.  It's like running a humidifier all the time where it's located at in the basement.  Makes the basement drier and cleaner.  It cost $1300 with a 9 year warranty from Lowes.  So for so good, no complaints.  Will be getting a $300 credit on my taxes this year too because it's a hybrid.  Very satisfied.