Need A New Electrical Panel? 3 Costs That Can Make Your Bill Much Larger Than Expected

Posted on: 15 May 2015

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If your electrical panel is crowded, worn, damaged or otherwise unpredictable, it's probably time to upgrade it or replace it. However, you should know what your'e getting into before you call your contractor. While most electrical panel changes cost about $900 to $1300, some installations can cost up to $4,000, depending on the amount of work that needs done.

If you're planning on spending a lower amount, you could be in for some sticker shock if you get a much higher estimate. Following are three things that will cost you extra, so you can plan ahead and budget accordingly:

Moving the Panel

If you need to move your electrical panel to accommodate a remodel or to bring your home up to code, you can expect to spend a little bit more money. The amount you spend will depend primarily on how far you have to move the panel and any structural changes needed to accommodate the panel when it gets to its new home.

You should also take into account the fact that you will likely have to replace drywall or siding, especially if your panel is outside or in a finished portion of your home. These are all extra costs that can quickly add up. 

Updating Panel in Older Home

If your home is relatively new, 10 years old or less, you probably won't have many issues replacing the electrical panel because new homes usually meet current code regulations. However, houses that are decades old often have code issues that need to be fixed before you can replace the panel. Depending on the issues in your home, you can expect to spend a few hundred extra dollars to replace or upgrade your existing panel. 

Upgrading the Panel

If you're upgrading your panel so you can power more stuff, you can expect to spend a little more. The amount you spend will primarily depend on how many amps you want to upgrade to. For example, if you wish to upgrade to 200 amps, you can spend up to $3,000. If you wish to upgrade to 400 amps, you may spend as much as $4,000. 

As you can see, there may be some costs associated with changing or upgrading your electrical panel that you may not have thought about. In order to get a clear picture of all the costs associated with your upgrade, be sure to get an estimate before work begins. To learn more, contact a company like Chadwick Electric Inc. with any questions or concerns you have.