Updating electrical panel cost
There are several advantages to upgrading to a 200 Amp Service Panel. A chief benefit of an upgraded service panel is increased safety.Electrical systems made 30-40 years ago are more prone to electrical failure.
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There are two main components that influence the cost of an electrical panel upgrade: materials and professional labor.
With a 200 amp panel upgrade, you will have plenty of capacity to power your home. An upgraded 200 amp panel provides much more flexibility than an older system.
For homeowners who feel a twinge of anxiety when they run two or more devices for fear of the power going out, a 200 amp panel has the capacity to put your mind at ease.
On average, a professional electrician needs about 10 hours to upgrade a panel at a rate of $50 to $80 per hour.
Materials, on the other hand, can range from $300 to $500 depending on factors such as the size of your panel and the number of breakers and fastenings needed in your home.
Finally, special circumstances such as an older home with faulty wiring or unforeseen barriers such as damaged interior circuits and outlets, as well as permits and other local fees, all increase both time and material costs.