If you need to upgrade or replace your electrical panel, one of the first things you want to know is: How much will a new panel cost?
The cost to install a new electrical panel ranges from $1,500 to $3,500. Most homeowners pay around $2,500 on average.
Wondering what causes the price to go up or down?
The cost to install a new panel largely depends on the following factors:
We’ll take a closer look at each of these factors in more detail below. Of course, the only way to get an accurate estimate is to contact an electrician to inspect your home’s electrical configuration. They’ll consider all factors and then provide you with an upfront quote.
Want a Free Estimate To Replace Your Electrical Panel?
Just call Roy’s PowerWorx at 716-218-1106 or request a worry-free appointment online. Our licensed electricians provide upfront, honest price estimates and reliable electrical panel installation work.
The Amperage of the New Panel
Amperage refers to the electrical strength of the panel. The higher the amperage, the more powerful the panel—and the more expensive it will be.
The National Electrical Code (NEC) requires residential panels to be rated 100 amps or higher. While most homes will only need a 100- or 150-amp panel, some may require a more robust panel at 200 to 400 amps.
An electrician can help you choose the correct amperage for your panel based on the electrical appliances you want to power in your home.
Whether or Not Rewiring Is Needed
The electrician you hire to install your electrical panel will inspect your home’s wiring to determine if it also needs to be replaced. If your current panel is under 100-amps, there’s a good chance that the wiring is old.
An electrician will need to replace the old wiring to make your home code-compliant and to support the new panel. Whole-home rewiring can add thousands of dollars to the overall cost of the project.
The total cost will depend on several factors, including:
The size of your home:
Bigger homes will have more wiring that needs replacing, increasing labor and material costs.
The electrician may need to cut into a wall to install the new wiring. The time and labor required to restore the wall will raise the cost of the rewiring project.
Whether trenching is required:
Sometimes, the electrician needs to replace the lines that run from the utility into your home. These lines should match the amperage of the new panel. If the electrician needs to “trench” (i.e., dig up) and replace these lines, the project will take longer, which increases cost.
Installing Additional Outlets
Older homes typically lack sufficient outlets. Per NEC requirements, your home should have an outlet every 12 feet of wall.
If the electrician needs to install additional outlets to bring your home up to code, the cost of your panel replacement will increase. You can expect to pay anywhere from $200 to $800 per outlet.
The cost to install an outlet will depend on:
- The outlet type: GFCI and AFCI outlets cost more to install than standard duplex outlets because they require additional labor.
- The outlet’s location: Replacing an old outlet is less expensive than installing an outlet in a new area.
The electrician you hire for the panel replacement can take inventory of your home’s outlets and tell you if you need additional outlets to bring your home up to code.
The Electrician You Hire
Reliable and reputable electrical contractors generally charge more for their labor. However, when installing a new electrical panel, you typically get what you pay for.
It’s better to invest in a high-quality electrical contractor from the get-go because they will install your electrical panel correctly. A licensed and experienced contractor can save you the hassle of paying another electrician to fix faulty installation work. It dramatically reduces the risk of electrical hazards caused by poorly completed installation.
As you consider an electrical contractor, ask yourself the following questions:
- Is the contractor licensed and insured?
- Does the contractor provide upfront pricing estimates in writing?
- Does the contractor offer any guarantees for electrical panel installations?
- Does the contractor have good reviews on sites such as Google or Better Business Bureau?
Ideally, the answer should be “yes” to all of the questions above. If you answered “no” to some of the questions, we recommend that you look for a better contractor.
Ready for a Worry-Free Electrical Panel Replacement?
Just call Roy’s PowerWorx at 716-218-1106 or request an appointment online. Our well-trained licensed electricians can help you choose the right electrical panel for your home and give you upfront pricing information. We’ll inspect your home’s current electrical load to make sure your new panel matches your power needs before we even begin the installation.
Unlike other contractors, our electricians are also certified to handle a whole-home rewiring if your electrical system needs one. Because we can rewire your Buffalo, NY home ourselves, you won’t have to deal with the hassle and cost of hiring another company.