How Much Does New Electrical Panel Cost

By | September 23, 2021



How Much Does New Electrical Panel Cost?



Having an up-to-date electrical panel is a critical component of your home, yet many homeowners pay minimal attention to it. It’s not until there’s a problem like outdated wiring or circuit breakers that are inadequate for the power that’s being used that the homeowner realizes the importance of this safety and convenience feature. The good news is that installing a new electrical panel is an affordable upgrade that will save you money in the long run.

Are you wondering how much does a new electrical panel cost? Well, the answer depends on the type of panel you choose, the size of the panel and the complexity of the installation. In this article we will explore all aspects of the installation process and what you can expect to pay.

Cost of Materials



The cost of materials varies significantly depending on the type of electric panel being installed. The most common types are 200-amp, 100-amp and 70-amp, and the cost of each type will depend on the manufacturer, model and features. Generally, you can expect to pay anywhere between $150 and $1,200 for the panel itself, while additional components such as circuit breakers, conduit and hardware will cost between $25 and $100.

Labor Costs



The labor cost of your electrical panel installation will also vary depending on the complexity of the job. If you need an entirely new panel with all new wiring, the installation will generally take a few hours and cost around $300 to $1,000. If your current panel needs to be replaced, the labor time and cost will be less, usually costing around $150 to $400.

Additional Considerations



In addition to the cost of labor and materials, there are a few other considerations that you should make when budgeting for your new electrical panel installation. Make sure to factor in additional costs such as permits and inspections, which can range from $50 to $200. It's also important to note that any existing wiring or circuits that no longer meet code must be replaced, which can add to the cost of the project.

Ultimately, the total cost of installing a new electrical panel will vary depending on the scope of the project and the cost of materials in your area. However, you can expect to pay anywhere between $500 and $2,000 for the entire installation. Investing in this upgrade now will help protect your home by ensuring that your electrical system is up to date, safe and reliable.


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