Electrical Panel Upgrade Cost – Modern houses are very much reliant on electrical energy and require periodic upgrade of their electric circuit panel to have more and more 220-volts and 120-volts outlets.
Many individuals often purchase property with an outdated electric circuit panel and it may become necessary to upgrade the existing circuit panel to have additional amperage.
There are several different types of electrical panel upgrades such as replacing an old fuse box, installing additional circuit breakers, and replacing an electrical panel with a higher capacity panel.
An electrical contractor can evaluate your existing electric circuit panel and understand the problems you are experience to suggest you the type of upgrade you need to make your electrical panel more functional and safer.
Reasons for Upgrading an Electric Circuit Panel
The reasons for upgrading an electric circuit panel can be different. Some may require additional amperage; others might want to avoid safety hazards associated with an outdated circuit panel. Let’s have a look at some of these reasons.
- Power Needs of Modern Devices – Modern houses utilize a variety of devices with varying powers needs that may not be fulfilled with a decade old electric circuit panel. For proper functioning of devices, it often becomes inevitable to upgrade the electric panel to fulfill the power requirements.
- Increasing the Sale Value of a Property – Old circuit panels are a sign of an outdated electrical system, which significantly impact the value of a property. Upgrading the circuit panel can make a big difference in the demand and sale value of a property.
- Avoiding Safety Hazards – Failure signs such as crackling sounds, flickering lights, and blown fuses demand an immediate upgrade or replacement of the electric circuit panel. All these signs can eventually lead to heat buildup and cause a fire.
Electrical Panel Upgrade Cost
Just like any other home-related investment, it is very important to consider the cost associated with upgrading of an electrical panel. Consulting with an expert electrician can give an individual a more accurate idea of how much it costs to upgrade an electrical panel. However, for the convenience of our readers, we are listing the different costs associated with an electrical panel upgrade project and their estimates.
Labor cost is the most significant proportion of the cost of an electrical panel upgrade. The quality of work greatly influences your family’s safety. Therefore, it is better to hire an expert electrician or electrical contractor for your electrical panel upgrade project.
Electrical contractors charge their fee on an hourly basis, which may range from $50 to $80. It takes around 8 to 10 hours for an average electrical panel upgrade, so expect to pay $500 to $800 to your contractor for the entire project. The labor cost may fluctuate depending on the complexity of your project and the expertise of the contractor. If your electrical panel upgrade requires the contractor to do some extra work, they will be more likely to charge you higher than their average rates.
Cost of the Electrical Panel Upgrade itself is the major material cost. An electrical panel may cost you anywhere from $300 to $500 depending on its type and additional features. Some utility companies also require households to install a new meter and power supply to support their upgraded electrical panel. Other materials used in the upgrade process include fittings, fasteners, and connectors. These small materials usually cost a total of $100 or even less.
Some projects may require repair or replacement of the existing wiring, outlets, fixtures, and circuits. The repair or replacement of wiring and other components can significantly increase the cost of your electrical panel upgrade, but it is necessary to ensure the safety of your family.
Replacing the wiring is a big job and costs around $3,500 to $8,000 for an average sized home. Also, if your project requires replacement of two prong electrical outlets with three prong electrical outlets, expect to pay $100 to $300 per outlet.
|Nature of Upgrade||Amperage||Average Cost|
|Upgrading the existing panel||100 amps||$800 to $1,300|
|Brand new panel||100 amps||$2,500|
|Upgrading the existing panel||200 amps||$1,200 to $3,000|
|Upgrading the existing panel||400 amps||$2,000 to $4,000|
|Installing a subpanel||200 to 400 amps||$500 to $1,000|
This is a general guide about the cost of upgrading a breaker box. The exact cost depends on various factors, which should be carefully considered by a buyer.