How much does an electrical panel replacement cost?
I’d say a ballpark figure of about $850 to $2,500 —depending on the amperage your home needs, whether you’re replacing or repairing the panels.
There is a lot to put into perspective, making it difficult to predict the total amount you will need for the project.
However, on this page, we managed to extrapolate the topic –putting almost every aspect of the job into consideration.
Whether it is the Meter Box, Circuit Breaker Switch, Subpanels, or even the tiniest add-ons –it all matters.
So without wasting much of your time, let’s quickly jump into it!
Total Estimate Of Electrical Panel Replacement Cost
Every home has an electrical panel built somewhere. And we all know the importance of the service box. It connects a main power line to your home and distributes currents to various circuits within the home.
And from time to time, the circuit breakers, fuses, or extension cords that ensure no over-currents in the power distribution will demand maintenance.
And if not attended, you leave your household or office vulnerable to fires, electrocution, and other electrical mishaps.
So if you are on the verge of replacing the electrical panel either partly or entirely, you only have one concern: the cost.
And the average cost of electrical panel upgrades could exceed $1,300 to $3,800. This price is based on a standard upgrade from 100 amps to 200 amps.
If you require a minor upgrade, the cost can range from $550 to t$800. Although several factors influence the overall cost of replacement, which include:
- Panel capacity: Electrical panels are available in sizes ranging from 60 amps to 400 amps.
- Nature of Work: Installing a brand-new system is more expensive than upgrading an existing panel.
- Additional services: You will incur additional costs if you need to relocate your panel or replace your meter box.
Let’s touch a little bit on the most common parts you may need replacement:
Meter Box: The replacement cost is between $200 to $500, although the number of circuits it serves will either add or subtract from the fee.
Circuit Breaker Switch: This small switch is relatively cheap to replace, worth only $150 to $200, with both labor and materials included.
Subpanels: A small subpanel installation costs between $500 and $1,000.
Suitable Electrical Panel Size For Your Home
The proper amperage for your new electrical panel will depend on your home’s size and electrical needs, referred to as its electrical load.
However you can use online calculators to get a rough estimate, but to get an accurate number, it’s best to consult an electrician in your home.
Since 2015, new homes have been constructed with a minimum of 200 amps, which is the standard service.
So, if you have a small home or limited electrical appliances, such as HVAC systems, a 100-amp panel may serve.
Although, It’s likely that you’ll require 200 amps if you have a substantial home or operate a home-based business that requires commercial-grade electrical equipment.
How To Save On Electrical Panel Replacement Costs
Here are a few ways you can reduce the cost of an electrical panel upgrade:
- Determine your electrical load accurately: By knowing your exact electricity needs, you can avoid paying for a larger panel than necessary.
- Upgrade the panel only: A complete home rewiring can cost up to $15,000. Upgrading only the electrical box can help you save costs.
- Get multiple estimates: Obtain written quotes from three or more local electricians.
- Consider the long-term benefits: Although upgrading your electrical panel may be costly, you’ll save money in the long run and can increase the value of your home when you sell it.
And lastly, DIY vs. professional installations.
I know what you are thinking. But hear me out!
Handling domestic electrical systems is hazardous and requires proper training and certification for electricians.
Attempt to hand the project all by yourself is NOT accepted, especially if it is not your area of expertise.
It is advisable to seek the services of a trained technician knowledgeable enough in electrical codes and procedures.
This ensures the safety and quality of your work.
YES! It will cost some money. But it’s preferable not to put your life on the line.
Frequently Asked Questions
What Are The Signs Your Electrical Panel Needs An Upgrade?
It’s time to upgrade when:
- Your electrical panel is older than 25 years old
- The panel overheats
- Rusted or broken
- Experience tripped breakers occasionally
- Install more outlets
- Still uses fuses vs circuit breakers
- Weird noises coming from the panel
- A burning smell or see smoke
- Notice light flickering when appliances are on
How Much Should A Panel Upgrade Cost?
The answer to that is Yes!
Upgrading your electrical panel can be a worthwhile investment, especially if your home is outdated.
Hence, you decrease the likelihood of electrical fires resulting from an overload and improve the efficiency of your electrical system.
Does Upgrading Your Electrical Panel increase Your home’s Worth?
Upgrading your electrical panel can enhance your home’s resale value by making it safer and more energy efficient.
This upgrade can demonstrate to potential buyers that the risk of electrical shortages and system overloads is significantly reduced.
How Much Does It Cost To Upgrade An Old Electrical Panel?
The average cost of upgrading from an old to a new electrical panel varies based on the amperage. Therefore, upgrading from 100 amps to 200 amps costs between $1,300 and $3,000.
Also, upgrading from 60 amps to 100 amps is $800 to $1,500.
Replacing a 200-amp panel with a 300-amp panel costs between $1,800 and $3,500. Upgrading to 400 amps costs $2,000 to $4,000.
How Long Does It Take To Install Electrical Installation In A House?
The amount of time it will take to install electrical wiring in a house can vary greatly depending on the home’s size and the electrical system’s complexity.
On average, it can take several days or even a few weeks to complete a basic electrical installation in a standard-sized home.
Conclusion
So that’s everything you need to know about the electrical panel replacement cost.
While it might seem complex and expensive, it is worth it in the end.
You get to see an immediate improvement in the safety and efficiency of your home’s electrical system.
But in most situations, the electrical panel replacement cost is not as bad as some people think.
However, you have to have an idea of what you are dealing with before you can make an accurate assessment of the price that you will be charged for panel replacement.
Any mistakes in your estimate and you could get a cost for panel replacement surprise that is much higher than anticipated.