How Much Does It Cost to Upgrade Electrical Panel

How to Read an Electrical Wiring Diagram

The electrical panel is a crucial element of your home or business’s electrical system, serving as the main control center. If it’s not functioning properly, you need a specialized electrician to address the issue!

At Greenway Electric, our team of professionals is ready to assist you around the clock. We conduct thorough on-site consultations to diagnose any problems with your electrical panel, providing prompt and cost-effective solutions. Whether you need an upgrade for your existing panel or a completely new installation, our experts deliver safe and reliable electrical services throughout New Jersey. We offer a variety of electrical panels suitable for both residential and commercial properties.

Electrical panels can last for decades, but if yours is outdated or too small to handle your home’s power demands, you risk both safety and system overloads. The average cost of upgrading an electrical panel from 100 amperes to 200 amps ranges between $1,300 and $3,000. However, there are a lot of factors that affect the real cost of an electrical panel upgrade. Below, we’ll explain what size panel is best for your home, how to tell when it’s time for an upgrade, and the factors affecting the cost.

What Electrical Panel Size Is Best for Your Home?

One of the most significant cost factors when upgrading your electrical panel is the amperage you currently have versus the amperage you need.

The minimum amperage allowed by the National Electric Code (NEC) is 100 amps, but most modern homes have a 200-amp electrical panel. Upgrade options include moving up to 200 amps, 300 amps, or even 400 amps. Systems larger than 200 amps are generally unnecessary unless you have a particularly large home.

You can use an amperage calculator by entering your appliance information and expected load to estimate the required amperage. However, it’s best to have a professional electrical contractor assess your home to determine the appropriate panel size.

If you’ve added new electrical equipment, appliances, or home additions such as central air systems, new appliances, EV chargers, pools, spas, or finished basements, you might need to upgrade your current panel capacity. Contact Greenway Electric today and get a professional and accurate assessment for your home’s electrical needs.

When Should You Repair or Replace Your Electrical Panel?

Several factors may necessitate an electrical panel upgrade, all centering around safety concerns. If you notice any issues with your electrical panel or it’s been in use for a long time, consulting a professional is advisable to determine if a replacement is necessary.

Our expertise is at your disposal. We are dedicated to ensuring you get the right electrical panel for your home or office. Our experienced electricians in New Jersey provide thorough and swift electrical panel installations. After installation, we perform comprehensive tests to ensure safety and optimal functionality. Contact our experts today at (973) 743-4040 for a free quote.

Faulty electrical panels can cause dangerous and costly problems, so you should repair or replace yours as soon as you notice an issue. Look out for these signs:

  • Sizzling, crackling, or buzzing sounds from outlets;
  • Circuit breaker frequently tripping;
  • Needing to unplug appliances to use others;
  • Higher-than-usual electricity bills;
  • Slow charging devices;
  • Regularly flickering or dimming lights;
  • Panel hot to the touch;
  • Panel older than 25 to 30 years;
  • Visible damage or rust on the panel;
  • Burn marks around outlets;
  • Planning to install large additional appliances;
  • Odors coming from the panel etc.

Factors Affecting the Cost to Upgrade an Electrical Panel

There are several factors determining the total cost to upgrade your electrical panel:

  • Panel Size: Ranges from 60 to 400 amps. More amps cost more.
  • Installation vs. Upgrade: Installing an entirely new system is more expensive than upgrading an existing panel.
  • Amperage of the New Box: Higher amperage means higher costs.
  • Age and Condition of Existing Electrical Work: Damaged or outdated systems need updates, increasing costs.
  • Panel Relocation: Moving the panel can cost between $1,000 and $3,000, depending on the complexity.
  • Other Services: Additional costs if the panel needs relocating or the meter box needs replacing.

Cost to Upgrade Electrical Panel by Amperage

100-Amp Service Upgrade

Most residential buildings have at least a 100-amp panel, but older homes may have panels as low as 60 amps. Upgrading to 100 amps is suitable for homes with minimal electrical needs.

200-Amp Service Upgrade

The standard panel size for modern homes is 200 amps, accommodating numerous electrical devices. Most upgrades involve replacing a 100- or 150-amp panel with a 200-amp panel.

300-Amp Service Upgrade

Upgrading to 300 amps is less common since homeowners needing more than 200 amps typically opt for 400 amps. However, 300-amp panels are available and can be installed.

400-Amp Service Upgrade

Only large, luxury homes generally require 400-amp electrical service panels. This upgrade is the most costly, especially if it includes a smart panel.

Cost to Replace vs. Upgrade an Electrical Panel

Replacing an old panel with a new one of the same size versus upgrading to a larger size won’t save much money. The labor required is roughly the same, though you might save $50–$100 on the panel itself. However, you should also consider these additional costs:

Main Breaker Installation

The main breaker controls electricity flow to other circuit breakers. Replacing the main breaker is relatively inexpensive, but if the hot bus bar is faulty, a new breaker panel is recommended.

Subpanel Installation

A subpanel is installed for capacity, convenience, or cost savings. It doesn’t increase the main panel’s power supply but often requires a main panel upgrade.

Panel Relocation

Relocating the electrical panel to fit new codes or improve access can add costs, depending on the distance and wiring needed.

Electric Meter Box Installation

If you get an electrical service upgrade, you might need a new meter box to measure energy usage. This is typically handled by your local electrical contractor.

DIY vs. Professional Electrical Panel Installation

Electricians must be trained and licensed due to the dangers of working with household electrical systems. Upgrading or replacing your electrical panel is not a DIY job. According to the National Fire Protection Association, faulty electrical wiring causes an average of 46,700 house fires annually. This is why electrical work should always be performed by professionals and inspected for safety.

As an esteemed electrical company in New Jersey, Greenway Electric is known for its stellar reputation and friendly team of experts. Whether residential or commercial, we handle any job with professionalism. Enhance the efficiency and safety of your environment with our comprehensive electrical panel services in New Jersey.

Is It Time for a Panel Upgrade? Greenway Electric Can Help!

Contact Greenway Electric today to learn more about upgrading your electrical panel. Begin your electrical panel upgrade with a trusted professional electrician in your area who can discuss your options and help you determine if a panel upgrade or replacement is right for you.

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