Water heater element replacement

Apr 1, 2018
63
Hunter 41AC 1 Charleston
Good morning, my issue is that I have an strong smell coming from my hot water heater. The water heater is a force 10 11 gallon 120 amp 1500w heater. Based on the following actions I think it has to do with the heating element. Actions taken.
1. Hydrogen peroxided the water tanks and hot water tank and let the mixture sit for 24 hours
2. smell still there and gets stronger as you move the faucet lever to hot
3. bypassed hot water tank ( after running water for a bit no smell)

Based on what I read the element as it ages can create a smell.
Questions:
Do you agree the smell could be the result of the element?
If so can
Can I buy a same amp and watt element from Home Depot as a replacement or do I have to drop 8x the coin from some discount marine store
Many thanks in advance