How Much Does It Cost To Upgrade Your Electrical Panel?

Tampa homeowners with older electrical panels may experience issues like frequent breaker trips or flickering lights. This is because their outdated equipment doesn’t have the capacity to keep up with modern-day electrical demands. To improve reliability, power, and safety, consider an electrical panel upgrade.

An upgrade is an important investment in your electrical system and can cost between $800 and $4,000. The electrical experts at Hoffman Electrical & A/C discuss the main factors that impact the cost of a replacement and the various benefits of an upgrade.

4 Factors Involved

When choosing a new electrical panel for your home, consider the many factors that will impact the price and power of your upgrade. Every homeowner has unique needs, and those who are well-informed can make the best choice for their property.

Panel Types

When selecting a new electrical panel, there are four main types of panels that offer their own unique application. Options include:

• Main breaker panels: These panels come with a built-in main breaker that can be used to shut off the power to your entire home. They limit electricity intake to protect circuits and monitor your electrical panel’s amperage capacity.
• Main lug panels: These panels don’t have a main breaker and require a separate disconnect to ensure that power to the building can be cut in an emergency from the exterior.
• Sub-panels: These smaller electrical panels serve a specific area of the home and get their electricity from a circuit in the main panel. They’re best when multiple circuits are needed in a single area.
• Transfer switches: These sub-panel types allow a generator to provide electrical power through your breaker to provide a seamless switch from utility service to backup power.

Your Existing Setup

The condition and layout of your existing electrical system can impact the overall cost of a panel replacement. If your older home needs rewiring to meet current electrical codes or has sections of wiring that are damaged and require repair, this can add to the cost of both labor and materials.

Plus, some homeowners may want to relocate their electrical panel to a more convenient location, especially if they are in cramped utility closets or unfinished basements. This adds to the extent of the project and will be reflected in your final bill.

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Code Compliance

Any electrical panel needs to adhere to the National Electrical Code for safety regulations. If your Tampa home was built many years ago, it may need additional work to meet these standards. These code corrections can include upgrading your grounding systems or installing AFCIs and GFCIs. Some of this work will also require a permit and may need to pass an inspection, all of which will increase the cost of the project.

Capacity Increase

When it comes to electrical panels, the bigger, the more expensive. This is true when making the jump between different amperage levels. Panels generally come in three capacities: 100-amp panels, 200-amp panels, and 400-amp panels. The most common upgrade for electrical panels is from 100 amps to 200 amps. This upgrade will ensure that your home can handle modern appliances. However, if you are looking to be able to use an EV charger, home workshop, or a large HVAC system, you wish to upgrade to a 400-amp system. These systems are only necessary for heavy electrical loads and can significantly increase the cost of installation.

5 Benefits of a Panel Upgrade

Upgrading your electrical panel can lead to a wide range of benefits including:

• Greater capacity: With the proper amount of electrical power, you can have safe and reliable power to run all of your electronics, appliances, and more.
• Improved safety: New ones meet modern safety standards and can reduce the risk of electrical fires and shocks.
• Energy efficiency: Your new panel can prevent wasted energy caused by outdated wiring and technology, making your home more energy-efficient.
• Compliance: For homeowners with really old units, an upgrade may be necessary to meet local electrical codes and ensure safety and resale value.
• Room for growth: Plan ahead with a system that can handle future projects like EV charger installation, solar panels, smart home systems, and more.

Schedule an Appointment in Tampa Today

If you’re ready for an electrical panel upgrade, trust the team at Hoffman Electrical & A/C. With 25 years of experience serving residents of the Tampa area, our team of licensed and insured electricians can handle a wide range of services and issues to keep your home and electrical system safe and functional. Our family-owned and -operated company can provide you with the personalized services you deserve.

Contact Hoffman Electrical & A/C today to schedule an electrical panel upgrade for your Tampa home.