Find out more about the cost of an electrical panel replacement!
If your home is in need of a new electrical panel, you might be wondering about the cost of an electrical panel replacement. After all, the cost of this service can vary quite a bit, and the final bill may impact your home improvement budget moving forward.
Here at TCA Electric, we’ve completed many electrical panel replacements for Vancouver homeowners over the years. One thing we’ve learned in that time is that, as with any electrical project, no two panel upgrades are exactly the same. Still, we’ve also gained an understanding of the typical cost range of an electrical panel replacement, as well as the factors that can push this cost higher or lower. So today, we’re diving into the details on how much you can expect your electrical panel replacement to cost!
How much does an electrical panel replacement cost?
The cost of a panel upgrade can vary quite a bit. In general, though, upgrading from a 100- to 200-amp panel typically costs between $8,000 and $12,500, with the average landing right around $5,000 for a panel replacement.
Of course, the difference between $8,000 and $12,000 is quite a bit. What factors play into this wide range? And what makes an electrical panel replacement worth it, anyway? Let’s take a look!
What factors affect the cost of a panel upgrade?
With such a wide range of prices, you may be wondering how the cost can vary so much. Here are the main factors that affect the cost of this upgrade:
The type of electrical panel you need
Electrical panels come in a variety of sizes, configurations, and manufacturers. Depending on what you need, this can affect the cost of the project overall. This is especially true when it comes to the size of your new electrical panel—upgrading to a 400-amp panel will cost more than a 200-amp panel upgrade, for instance.
Your existing hardware
While most homes now use breaker panels, some still have fuse boxes installed. By now, it’s definitely best to replace your fuse box with a breaker panel. This upgrade can cost slightly more than simply upgrading from one electrical panel to a new one.
The labour involved
Overall, much of the cost of an electrical panel replacement comes down to the amount of labour required. Sometimes a panel replacement or upgrade is a very simple swap. Other times, however, the panel may be difficult to access or further upgrades (such as new wiring) may be necessary.
In the end, only a professional Vancouver electrician will be able to provide a precise estimate of how much you can expect an electrical panel replacement to cost.
Why should I replace my electrical panel?
There are many reasons why you might want to replace your electrical panel. Perhaps the biggest reason is safety. If your panel is especially old, is showing signs of wear and tear, or simply can’t handle the current electrical demands of your household, it can create an unsafe electrical situation in your home. Old or damaged panels are more liable to malfunction, while an overloaded panel can cause appliances and devices to not work properly (at best) or present a fire hazard (at worst).
Beyond the safety issues, there are other times where upgrading your panel makes sense. For instance, if you’re planning to install new electrical appliances or add onto your home, a panel upgrade will likely be necessary. In addition, an outdated panel can harm the value of your home. So, if you’re looking to sell any time soon, it’s a good idea to upgrade!
TCA Electric: Electrical Panel Replacement Vancouver
As you can see, there are many factors that can impact the cost of a panel upgrade for your home! In the end, whether the costs outweigh the benefits will all come down to your individual situation. If you’re interested in replacing your electrical panel, or if you’re not sure whether this is the right decision for your home, the experts at TCA can help! We’ve been in the electrical industry for many years, and we’ve helped countless homeowners make important decisions on electrical upgrades. We’ll be happy to help you with the decision, walk you through the process, and of course, install your brand new electrical panel! Contact us today to get started.