Oil water heater replaced with electric

We recently had our oil-burning water heater serviced and the technician recommended replacing it with an electric water heater. Some quick background, our current setup is an oil furnace for heat plus a separate oil water burner, both from 1979. We also need new oil lines put in as the current ones are the old style without liners, and we need a new oil-shutoff valve. The quote we were given for the water heater itself was $1507, plus an estimate of between $600 to $1000 for the electrician work, so basically a total of about $2500 to replace our current water heater.
The quote for the new lines and valve is $738 if we replace the water heater or $1150 if we keep the current oil burner.

Does this seem in line with current prices?

 

I would find out what type of electic water heater you are looking at and that the 1500 price tag is for and do shoping at home depot. At simple ge 40 gal tank water heater is like 200-400 but thats a simple water heater. Some of the tankless water heaters are 1200 but just take some time and find out what you need and buy it yourself and just have it installed. Probably would be much cheaper.

I would also get a qoute from someone else as well.

 

Go tankless.........why heat water all day long and at night when you are not actually using the hot water???. We have them (propane) and I wouldn't switch back.