Understanding Electrical Panel Amperage
Amperage measures the strength of electrical current in a panel. Generally, panels with higher amperage cost more due to the increased materials, labor, and complexity involved in their installation. Below is a summary of costs based on different panel amperages:
| Panel Amperage | Cost (Panel Only) | Cost (Panel + Installation) |
| 100 amps | $100–$200 | $800–$1,500 |
| 150 amps | $150–$250 | $1,300–$1,600 |
| 200 amps | $250–$350 | $1,300–$2,000 |
| 300 amps | $350–$500 | $1,800–$3,500 |
| 400 amps | $500+ | $2,000–$4,000 |
Being aware of these costs is essential for planning your budget for an electrical panel upgrade.
Cost of Hiring an Electrician
On average, the cost of hiring an electrician is around $1,500, with labor rates ranging from $40 to $250 per hour. The installation typically takes four to eight hours. Because the installation of an electrical panel requires professional expertise, labor costs are a significant portion of the total expense.
Additional potential costs may include:
- Rewiring within walls: $1,500–$12,000
- Upgrading the circuit breaker box: $500–$2,000
- Replacing a circuit breaker switch or fuse: $100–$250
- Installing a subpanel: $400–$1,750
- Electric meter box installation or replacement: $200–$800
- Electrical wiring or panel installation: $600–$2,300
- Rewiring an electric panel: $500–$4,500
- Fuse box replacement: $200–$2,000
These additional expenses should be factored into your overall budget for the electrical panel upgrade.
Factors Influencing Upgrade Costs
- Permits: Upgrading an electrical panel typically requires a permit, which can cost between $50 and $300, depending on local regulations. Certified electricians usually manage the permit process, so it’s important to check if the permit cost is included in the overall service fee.
- Additional Materials: The project may require extra materials, usually costing less than $50. These could include new wiring, circuit replacements, receptacles, fittings, connectors, and fasteners. If the panel needs to be relocated further from the service connection, expect an additional cost of about $300 for the extra wiring.
- Location of the Panel: The location of the panel can affect installation costs due to accessibility. In newer homes, panels are often located outside in weatherproof boxes, while indoor panels may require cutting through walls for access, which can increase costs due to necessary repairs. You may also need to upgrade the exterior wiring and meter box to accommodate the new 200-amp panel.
Choosing Between Upgrading and Repairing an Electrical Panel
When deciding whether to upgrade or repair an electrical panel, consider several factors.
“Replacing an entire panel typically costs between $520 and $2,200, averaging around $1,300.” the Team from Service Trade Pros notes.
If the primary goal is to increase the panel’s amperage, a complete replacement is often required. However, if specific components are malfunctioning, replacing those parts can be more economical. Common parts and their replacement costs include:
- Main breaker: $500–$2,000
- Fuse box: $1,500–$2,000
- Main lug panels: $400–$1,750
- Subpanel: $400–$2,000
- Circuit breaker switch: $100–$200
- Electric meter box: $500–$2,100
If the cost of replacing individual components is close to that of a new panel, it may be more logical to opt for an upgrade. Additionally, consider the current panel’s lifespan and your future needs for higher amperage when making this decision.
Ways to Reduce Electrical Panel Upgrade Costs
Homeowners looking to cut costs on an electrical panel upgrade can consider the following strategies:
- Obtain Multiple Quotes: Request written estimates from at least three qualified electricians in your area to ensure competitive pricing and better deals.
- Bundle Projects: If you’re renovating, try to schedule the electrical panel upgrade along with other electrical tasks, such as installing additional outlets. This can help reduce labor costs, especially if walls are already being opened for other renovations.
- DIY Non-Electrical Work: While it’s risky to handle electrical work without expertise, homeowners with some skills can save money by taking care of non-electrical tasks, like painting or repairing drywall after the electrical work is complete.
- Tax Credits: Homeowners might qualify for a 30% tax credit, up to $600, for upgrading to a 200-amp electrical panel that meets National Electric Code standards and supports energy-efficient improvements, which can significantly offset upgrade costs.
Impact of Upgrading an Electrical Panel on Home Value
Upgrading an electrical panel may not directly increase your home’s market value, but it can enhance its appeal to potential buyers. Modern electrical panels improve safety and efficiency, which are attractive features for buyers. Such upgrades can help sellers achieve a better price when selling their home, as they signal that the property has been well maintained, providing reassurance to prospective buyers.
