Upgrading your home’s electrical panel is an essential investment for the safety and efficiency of your electrical system. But as long as the lights are on and the appliances are humming, many homeowners don’t see the benefits of getting their old electrical panel replaced for something new and modern.
We’re here to break the stigma. So, is the cost of an electrical panel upgrade worth it? Yes! Check out the benefits of upgrading your electrical system and the factors influencing the electrical panel cost.
Understanding the Cost of an Electrical Panel Upgrade
The cost of an electrical panel upgrade depends on a few different factors, including the type of panel, labor costs, and any additional costs related to the upgrade. Upgrading from an old panel to a new breaker box, for example, may involve not only the panel replacement but also necessary updates to the wiring, circuit breakers, and possibly even the electric meter box.
Panel Types and Electrical Needs
- Fuse Boxes vs. Circuit Breaker Panels: Fuse boxes are outdated and less efficient compared to modern circuit breaker panels. Upgrading to a new panel often means transitioning from a fuse box to a breaker panel, which can handle more power output and better support your home’s electrical load.
- Main Panels and Subpanels: Your home’s main breaker switch is typically part of the main panel, while subpanels can serve specific areas of your home. The size of the electrical panel required depends on your energy usage and the number of circuits in your home.
Labor Costs and Professional Electricians
Hiring a licensed electrician is crucial for staying up to code. The labor costs can vary based on the complexity of the job and the local codes in your area. Most electricians will provide a detailed estimate, including labor and material costs.
Benefits of Upgrading Your Electrical Panel
Safety and Prevention of Electrical Fires
One of the primary reasons to upgrade your home’s electrical panel is to prevent electrical fires. Older panels, such as the Federal Pacific Electric panel, are notorious for safety issues. Upgrading to a new electrical panel can significantly reduce the risk of electrical fires and improve the overall safety of your home’s electrical system.
Increased Electrical Capacity and Efficiency
Upgrading your electrical panel allows your home to handle more electrical load, which is especially important if you have HVAC systems, new appliances, or plan to add more circuits. A new breaker box or upgraded electrical panel can provide more consistent power output, reducing issues like flickering lights and overloaded circuits.
Compliance with Local Codes and National Electric Code
An upgraded electrical panel ensures compliance with local codes and the National Electric Code, which is crucial for both safety and property value. An indoor panel installed outdoors, for example, would not meet code requirements and could pose significant safety risks.
Enhanced Property Value and Tax Credits
A modern electrical system can increase your property’s value and potentially qualify you for tax credits. Prospective buyers often look for homes with updated electrical systems, as it means less work and expense down the line.
Factors Influencing the Total Cost of an Electrical Panel Upgrade
The total cost of an electrical panel upgrade can vary widely based on several factors:
- Size of the Electrical Panel: Larger panels with more circuits will generally cost more. Common sizes include 100 amp, 200 amp, and even higher for larger homes.
- Additional Electrical Work: Upgrading your electrical panel might also require updates to the wiring, installation of a new electric meter, or drywall repairs if the installation impacts your walls.
- Local Codes and Permits: Compliance with local codes and obtaining the necessary permits can add to the overall cost. Your licensed electrician should be familiar with these requirements and include them in their estimate.
Squeak’s Is Here to Help!
Considering the enhanced safety, increased electrical capacity, and potential property value boost, upgrading your electrical panel is often worth the investment. By ensuring your home’s electrical system is up to date, you not only save money on potential repairs and energy usage but also gain peace of mind knowing your home is safe and efficient.
Don’t wait until you experience electrical problems — upgrade your electrical panel and enjoy the benefits of a modern, reliable electrical system. If you’re considering an electrical panel upgrade, contact Squeak’s today. Our certified electricians are ready to assess your home’s electrical needs and provide a comprehensive upgrade plan that ensures safety, efficiency, and compliance with all local codes. We’re also HVAC and plumbing experts, so we’re here for you whether you need a new furnace, sump pump tank, or sewer repair in Denver. Call us now to schedule a consultation!
