A storage tank and method for monitoring thereof is provided. The tank includes a first panel that defines a mounting surface for carrying a heating element. The heating element extends into the tank for heating liquids stowed therein. A sidewall interconnects the first panel and a spaced-apart second panel. A support extends from a bottom-facing surface of the second panel for supporting the tank in a spaced-apart relation from a nearby surface. The support further defines an upward-facing pocket for receiving a portion of the heating element. A control system may monitor the storage tank and alert a service provider of operative conditions thereof.