How Much Does It Cost to Replace an Electrical Panel?

In some older homes with original wiring, you may find old-school electrical panels of just 60 amps, not enough to comfortably accommodate the demands of most modern homes.

“We recommend a 200-amp minimum service size for all homes,” says Ben Kolo, owner of Mr. Electric of Central Iowa. “EV [electric vehicle] car charging demands alone will require 100 amps when a residence is trying to charge multiple vehicles at once.”

If you live in an older home or find your electricity supply can’t keep up with demand, you may need to upgrade your panel.

What Does It Cost to Replace an Electrical Panel?

Around $1,275. But the price you’ll pay depends on your panel’s amperage, the type you need to replace, any upgrades or additional changes, and new wiring.

On average, homeowners can expect to pay between $750 and $2,000 to upgrade from 100 to 200 amps. However, this doesn’t include the cost of running new wiring for additional circuits.

Replacing an electrical panel is definitely a job for pros. Professional electricians will typically handle the entire process, from removing the old panel to installing the new one and ensuring everything works as it should.

You may save a little money by doing some of the prep work and finishing touches yourself, like installing new drywall. Some electricians may allow homeowners to assist with prep and cleanup tasks to lower the cost slightly. But given the high risks associated with electrical work, most professionals prefer to handle all aspects of the job.

Don’t attempt to cut corners and do all the work yourself. Aside from the danger, you could easily create building code or national electric code violations.

Adam Nelson, licensed electrician and owner of Young Cardinal Electric in Tampa, FL, stresses the importance of working with suitable contractors. “No matter the situation, you should always collaborate with a qualified, licensed and insured contractor to complete any electrical work in your home,” he says.

What Factors Raise or Lower the Cost?

Lots of things impact the cost of your electrical panel replacement.

Mark McShane, a certified electrical engineer and tutor at the Skills Training Group, says the key cost influencers are size of the new panel, labor, materials and the complexity of the job. “The size of the panel will influence how much space is needed to accommodate it, as well as how many circuits can be wired into it,” he says.

Amperage

A small home without high-demand modern appliances, like central air conditioning, can get by with a 100-amp electrical panel. That costs between $500 and $1,500 to replace.

For most average family homes, the lowest amperage is 150 to accommodate light-to-moderate electrical demands. For the slightly higher amperage, you’ll pay up to $1,750.

For a 400-amp panel, you’ll pay between $1,500 and $4,000. With this setup, you’ll have two 200-amp panels, with one installed as a subpanel. Most homes don’t need this level of service. However, it’s a strong option for a large household that runs lots of high-demand appliances.

Labor

Replacing or upgrading an electrical panel takes between four and eight hours, not including additional wiring or outlets. Most electricians charge between $50 and $150 per hour. So labor alone can run more than $1,000.

How much you’ll pay per hour depends on the typical labor costs in your area and the complexity of the job.

Accessibility of the panel

An easily-accessed panel allows work to be done more quickly and efficiently, which can lower costs. Conversely, a panel in a hard-to-reach place might take more time and effort to replace.

Relocation of the panel

If you need to move the electrical panel, the average cost is between $1,500 and $2,500. While not always necessary, you may want to relocate it outside for practicality and accessibility.

“We recently had a customer with a circuit breaker in the bathroom, which is not allowed,” Kolo says. “Instead of re-routing 20 individual circuits to a new location, the new panel was installed directly outside, and the existing wires were routed into the new panel.

“Many Southern states, as a rule, have the circuit breaker panel outside right next to the meter equipment.”

Save money with a subpanel

If your current electrical panel is in good condition but you need more amperage or electrical circuits, you could save money by adding a subpanel instead of upgrading the whole panel. This is a smart option for mother-in-law suites, garage or basement conversions, workshops or pool installations.

“It is often more economical to install a subpanel instead of replacing the main panel if you need to add additional circuits,” McShane says.

“A subpanel typically contains a breaker box that powers one or more circuits within the home. This is usually used if you need to add new appliances or any other electrical items that require more current than what is available in the main panel.”

Here are the average total project costs by subpanel amperage:

• For 100 amps: $400 to $1,000;
• For 125 amps: $500 to $1,250;
• For 150 amps: $600 to $1,750.

Extras

Rewiring your house or running new wire adds to your costs. While the wiring itself doesn’t cost much, labor costs can quickly add up. Plus, you may want to add new outlets or light switches.

You may also want your electrician to install whole-house surge protection to safeguard your electronics. Remember, bundling jobs like this often saves you money. Alone, whole house surge protection can cost up to $700 for parts and labor, although most people pay around $300.

Electrical Panel Upgrade Tax Incentive

There are lots of tax credits and rebates available to make your home energy efficient, though you may need to upgrade your electrical panel to accommodate them.

You can claim a rebate of up to $600 for an electrical panel upgrade as long as it meets some basic criteria. Plus, low-income homes can get up to $4,000 for electrical panel installation, and up to $2,500 for electrical wiring.