Understanding Today’s Electrical Panel Costs

The cost of new electrical panel typically ranges from $850 to $4,000, depending on various factors including amperage, labor, and location.

Your home’s electrical panel is the central hub of your electrical system—the point where power from the utility company enters your home and gets distributed to all your circuits. With today’s homes using more electricity than ever before, many older panels simply can’t keep up with modern demands.

If your home was built before 1990, chances are good that your electrical panel is outdated. Older homes often have 60-amp or 100-amp service, while modern homes typically require at least 200 amps to safely power all appliances, electronics, and potentially EV chargers.

Beyond capacity, safety is a critical concern. Electrical panels typically last 25-40 years, but aging components can create serious fire hazards. According to industry data, electrical issues cause approximately 51,000 home fires each year.

I’m Jesse Burnett, a Master Electrician with over 1,200 completed residential panel upgrades, and I’ve seen how the cost of new electrical panel installations varies based on home size, existing wiring condition, and required amperage. In this guide, I’ll walk you through everything you need to know about electrical panel costs in 2024.

What Does an Electrical Panel Do (And Why Upgrades Matter)

Your electrical panel might not be the most exciting part of your home, but it’s certainly one of the most important. This unassuming metal box—whether you call it a breaker box, fuse box, or service panel—works as the command center for all things electrical in your house.

Think of your electrical panel as the heart of your home’s electrical system. Just as your heart pumps blood to every part of your body, your panel distributes electricity to every corner of your home. Without it functioning properly, nothing electrical works as it should.

The Critical Functions of Your Electrical Panel

When I visit homes in Augusta, I often find homeowners who don’t quite understand what their panel actually does. In simple terms, your panel handles several crucial jobs that keep your home running safely.

First, it’s your home’s power distribution hub. The main line from your utility company connects here, and your panel divides this incoming electricity into separate circuits that power different areas of your home.

Second, it provides essential safety protection. Those circuit breakers or fuses aren’t just convenient—they’re lifesavers that automatically cut power when they detect dangerous situations like overloads or short circuits.

Your panel also manages the electrical load balance throughout your home, ensuring no single area draws too much power. And finally, proper grounding through your panel creates a safe path for electricity to follow in case of a fault, protecting both your family and your expensive electronics.

Over the years, we’ve seen a major shift from fuse boxes to circuit breaker panels, and for good reason. When a circuit breaker trips, you simply reset it. With fuses, you’re stuck replacing them each time—often in the dark with a flashlight between your teeth!

Why Upgrades Matter

Even if your older panel seems to work just fine, there are compelling reasons why the cost of new electrical panel installation might be worth considering.

Most electrical panels have a lifespan of 25-40 years. But just because something still works doesn’t mean it works safely or efficiently. Modern homes use dramatically more electricity than homes built three decades ago. Between computers, smart devices, high-efficiency appliances, and possibly electric vehicle chargers, your electrical demands have likely doubled or tripled since your home was built.

Modern panels include better safety features like AFCI and GFCI protection, which can prevent electrical fires and shocks. These weren’t standard in older panels, leaving many homes vulnerable to preventable hazards.

Your electrical panel also needs to meet current code requirements, which have evolved significantly over the years to address safety concerns. And as a practical matter, some insurance companies simply won’t cover homes with outdated electrical panels—particularly certain brands known to be fire hazards.

As my colleague Gerald Talbot, a Master Electrician with over 30 years of experience, always says, “It is best to have your panel checked out at least once a year. This way, if there are any issues, they can be caught early before they become dangerous.”

A panel inspection is a small investment that could save you from a much larger one down the road—or even save your home and family from disaster.

More info about Residential Electrical

The Real Cost of New Electrical Panel in 2024

If you’re budgeting for a new electrical panel this year, you should know that the cost of new electrical panel installations has been on a bit of a roller coaster. Between supply chain hiccups and material costs that seem to climb like they’re training for the Olympics, prices have definitely shifted.

Most homeowners are spending between $520 and $2,121 for their panel replacements, with the national average sitting at about $1,299. Of course, if your situation is more complex or you’re going for top-of-the-line equipment, that price tag could climb to $4,200 or beyond.

I’ve been talking with homeowners about panel upgrades for years, and the first question is almost always about cost. Let’s break down what’s really driving those numbers.

Key Cost Factors at a Glance

Your panel’s amperage rating is the biggest price factor (we’ll dive deeper into that in a moment), but several other elements affect your bottom line. Professional electrician labor typically runs $50-$120 per hour, and don’t forget those necessary permits ($50-$300 depending on where you live).

Panel type matters too – standard panels are much more affordable than their smart counterparts, which can run $2,000-$5,000. And if your project requires rewiring, relocating the panel, or adding circuits, your costs will climb accordingly.

As electrical contractor Paul Schwalbe recently told me: “Materials are very difficult to find at this time. Many supply warehouses are out of just about every kind of meter base and panel. Because of this extra effort needed to locate material, prices have increased. Normally, a 400 Amp panel would cost an electrician about $400. Since they are so hard to locate right now, they can cost up to $800.”

More info about Upgrade Electrical

Cost of New Electrical Panel by Amperage

Think of your panel’s amperage like your home’s electrical appetite – how much power it can safely consume at once. This single factor impacts your price more than anything else.

100-Amp Panel

• Cost Range: $850-$1,600
• Best For: Smaller homes (under 1,200 sq ft) with minimal electrical demands

While 100-amp service is the minimum allowed by code for older homes, it’s worth noting that this size is becoming increasingly inadequate for modern families. If you’re running multiple devices, have central air, or plan to add any major appliances, you might find yourself constantly tripping breakers.

200-Amp Panel

• Cost Range: $1,300-$3,000
• Best For: Most modern homes (1,200-3,000 sq ft)

This is the goldilocks option for most households today. Since 2015, it’s been the standard for new construction, and for good reason. A 200-amp panel gives you plenty of breathing room for typical appliances, HVAC systems, and everyday electrical use without breaking the bank.

300-Amp Panel

• Cost Range: $1,800-$3,500
• Best For: Larger homes with high electrical demands

If your family has acceptd all things electric – from heating to hot tubs to workshop equipment – this might be your sweet spot. The extra capacity means you won’t have to worry about running multiple high-demand systems simultaneously.

400-Amp Panel

• Cost Range: $2,000-$4,000+
• Best For: Very large homes (4,000+ sq ft) or homes with extraordinary electrical needs

For truly massive homes or those with exceptional electrical demands, a 400-amp service provides peace of mind. Interestingly, many electricians achieve this by installing two 200-amp panels side by side rather than a single 400-amp unit, which can actually save you money.

Subpanel Installation

• Cost Range: $400-$2,000

If your main panel is in good shape but you need additional circuits for a specific area (like that new garage workshop or home addition), a subpanel can be a budget-friendly alternative to a complete upgrade.

As Vlad Kravets, who’s installed hundreds of panels, puts it: “200 amps will cover you for most things, unless you’re going all-out with heavy electrical usage.”

Cost Breakdown: Materials vs. Labor

Understanding how the cost of new electrical panel divides between parts and labor helps you make sense of those quotes landing in your inbox.

The materials typically account for 40-60% of your total cost. The panel box itself runs $80-$500 depending on its capacity and features. Then you’ll need circuit breakers ($5-$15 for standard ones, but specialty AFCI/GFCI breakers required by code in certain locations can cost five times more).

Other materials might include a meter box ($100-$500 if needed), grounding rods ($100-$300 each, and code requires at least two), plus wiring, conduit, and disposal fees for your old equipment.

The remaining 40-60% goes toward labor. Licensed electricians charge $50-$120 per hour, and a straightforward panel replacement typically takes 4-8 hours. If rewiring is needed, that timeline stretches to 20-30 hours. Your electrician will also handle permit coordination and inspection scheduling.

I always remember what certified electrician Ed Johnson told a homeowner who was considering a DIY approach: “Apart from resetting a breaker, untrained homeowners shouldn’t touch anything inside a main electrical service panel.” Wise words that could save lives.

More info about Electrical Repair

Factors That Drive the Cost Up or Down

When planning your electrical panel upgrade, you might be surprised by how many factors can swing the cost of new electrical panel installation. Let’s explore what might bump your price up – or help you save a bit of money.

Home Size and Electrical Demands

The bigger your home, the more power you’ll typically need. It’s not just about square footage, though – it’s what’s inside that counts! If you’ve got electric heating, a bubbling hot tub on the deck, a workshop full of power tools, or you’re planning to charge an electric vehicle, your electrical demands will be higher. This often means a larger panel with more capacity – and a higher price tag to match.

Panel Location and Accessibility

Ever tried to work in a cramped, dark space? It’s no fun, and electricians charge accordingly. If your panel is tucked away in a tight corner of the basement, hidden behind storage, or in an awkward location, labor costs will likely increase. The harder it is to access, the longer the job takes, and time is money when it comes to skilled electrical work.

Panel Relocation

Sometimes your panel needs to move entirely. Maybe it’s in a bathroom (a code violation) or you’re remodeling. Moving a panel typically adds $800-$3,000 to your project, depending on how far it’s moving, how complex the rewiring will be, whether you need new service entrance cables, and the inevitable wall repairs afterward. It’s like moving to a new house – a short move across town is easier than relocating to another state!

Rewiring Requirements

Your panel is just one part of your electrical system. If the wiring throughout your home is outdated or unsafe, you might need rewiring along with your panel upgrade. This can significantly increase your costs:

• Partial rewiring might add $600-$4,500
• Complete home rewiring can run $8,000-$20,000 for an average-sized home

Think of it like replacing not just the heart of your electrical system, but also all the arteries and veins.

Copper vs. Aluminum Wiring

Aluminum wiring is cheaper, but as one electrical expert puts it: “I would not allow aluminum in my specifications. Aluminum is prone to corrosion and torque issues.” Copper costs more upfront but offers better safety and reliability. At Dr Electric CSRA, we believe some things are worth investing in, and the wiring that prevents electrical fires is definitely one of them!

Smart Panel Features

Just like everything else these days, electrical panels have gone high-tech. Smart panels can monitor your energy usage down to individual circuits and even let you control them remotely. They’re cool, but they come with a premium price:

• Basic panel: $250-$450
• Smart panel with monitoring: $2,000-$5,000

Regional Labor Rates

Where you live affects what you’ll pay. Labor rates vary significantly by region, and even within the same metro area. Here in Augusta, GA, and the surrounding areas like Evans, Grovetown, and Martinez, our rates at Dr Electric CSRA are competitive for the region while ensuring you get licensed professionals doing quality work.

Tax Credits and Incentives

Here’s some good news for your wallet! Thanks to the Inflation Reduction Act of 2022, you might qualify for:

• Up to $4,000 in rebates for electrical panel upgrades
• Additional incentives if your upgrade is part of broader energy efficiency improvements

As Craig Etling, an experienced electrical contractor, explains: “We know how much electrical work that job is going to take to complete. That’s determined through a conversation with the client.” That’s why at Dr Electric CSRA, we always start with a thorough assessment of your needs before providing an estimate.

Energy-efficient upgrade tax credit

Signs You Need to Replace or Upgrade Your Panel

You might not think about your electrical panel much, but it’s silently working 24/7 to keep your home powered safely. Over time, these hardworking systems can wear out or become outdated. Knowing when it’s time for an upgrade can protect your family and your property.

1. Frequent Circuit Breaker Trips

Do you find yourself regularly visiting your electrical panel to reset tripped breakers? This isn’t just an inconvenience—it’s your electrical system waving a red flag. When your panel can’t handle your home’s electrical demands, breakers trip as a safety measure to prevent overheating. In older homes especially, residents often develop a frustrating routine of resetting breakers just to use basic appliances simultaneously.

2. Flickering or Dimming Lights

If your lights flicker when the refrigerator kicks on or dim noticeably when you use the microwave, your electrical panel is struggling to distribute power effectively. These voltage fluctuations aren’t just annoying—they’re telling you your panel is overtaxed and potentially creating a dangerous situation behind your walls.

3. Warm Panel or Buzzing Sounds

A healthy electrical panel should never feel warm to the touch or make strange noises. If you hear buzzing, crackling, or sizzling sounds coming from your panel, or it feels warm when you place your hand near it, step away and call a professional immediately.

Daniel Mock, Vice President of Operations at an electrical company, warns: “If your panel is malfunctioning, it often causes your breakers to trip, or they will fail to trip, which is even more dangerous.”

4. Rust, Corrosion, or Water Damage

Your electrical panel should be clean and dry at all times. Visible rust or corrosion indicates moisture has found its way into your panel—a serious safety concern that compromises electrical connections. Water and electricity create a dangerous combination that requires immediate professional attention, regardless of how minor the damage might appear.

5. You Have a Known Hazardous Panel Brand

Some electrical panels have earned notorious reputations for safety issues. If your home has any of these brands, replacement should be a priority:

Federal Pacific Electric (FPE) panels were installed from the 1950s through the 1980s and have a documented failure rate that creates fire risks. Zinsco panels, popular in the 1970s, can create safety hazards when the breakers melt to the bus bar. Pushmatic panels and old-style fuse boxes also warrant replacement due to reliability and safety concerns.

6. Your Home Still Has a Fuse Box

If your home still relies on a fuse box rather than circuit breakers, you’re living with outdated technology. These older systems typically only support 30-60 amps of service—far below the 100-200 amps modern homes require. Beyond the inconvenience of replacing blown fuses, these systems simply cannot safely handle today’s electrical demands.

7. You’re Adding Major Appliances or Systems

Planning home improvements? Many additions require more electrical capacity than your current panel might provide. Installing an electric vehicle charger, hot tub, central air conditioning, electric range, or even adding square footage to your home often necessitates a panel upgrade to handle the increased load safely.

8. Insurance Issues

Your outdated electrical panel might be costing you money in unexpected ways. Many insurance companies either won’t cover homes with outdated electrical systems or charge significantly higher premiums for the increased risk. Upgrading your panel can actually lead to insurance savings over time, making the cost of new electrical panel installation partially offset by lower premiums.

Top 8 Warning Signs You Need a New Electrical Panel

These key indicators suggest it’s time to consider an upgrade:

1. Panel age over 25 years
2. Frequent breaker trips or blown fuses
3. Flickering or dimming lights
4. Warm panel or unusual sounds
5. Visible damage, rust, or corrosion
6. Known hazardous panel brand
7. Insufficient circuits for your needs
8. Heavy reliance on power strips and extension cords

At Dr Electric CSRA, we’ve seen how ignoring these warning signs can lead to dangerous situations for Augusta homeowners. The cost of new electrical panel installation is a worthwhile investment when weighed against the risks of continuing with an outdated or failing system. Our team can help you determine if your panel needs attention and provide clear, fair pricing for any necessary upgrades.

More info about FAQs

Can You DIY or Should You Hire a Pro?

When looking at the cost of new electrical panel installation, it’s tempting to consider doing it yourself to save money. I get it – those savings look attractive on paper. But as someone who’s seen the aftermath of DIY electrical work gone wrong, I need to be straight with you: this is one home project where professional installation isn’t just recommended – it’s essential.

Why Professional Installation Is Crucial

Your electrical panel is basically the heart of your home’s electrical system. Working on it involves handling high-voltage electricity that can be deadly if mishandled. In Georgia (and most states), there are important legal requirements too:

Licensed electricians don’t just have technical skills – they understand the National Electrical Code requirements that keep your family safe. They can properly pull permits (which are legally required) and coordinate with your power company to disconnect service before work begins.

Think about it this way: would you perform your own heart surgery to save money? Probably not, and your home’s electrical heart deserves the same respect.

According to the National Fire Protection Association, electrical failures were the second leading cause of home fires between 2015-2019. These fires resulted in approximately 490 deaths, 1,440 injuries, and $1.3 billion in property damage annually. Those statistics aren’t meant to scare you – they’re meant to underscore why this work requires expertise.

National Fire Protection Association data

Risks of DIY Installation and the True Cost of New Electrical Panel

Those DIY savings can vanish quickly when you consider what’s really at stake. The most obvious risk is personal safety – electrocution isn’t just painful, it can be fatal. But there are other serious consequences too.

Improper installation creates fire hazards that might not become apparent until months later. If your work fails inspection (and it likely will without proper training), you’ll face costly corrections. Many homeowners don’t realize that DIY electrical work can actually void their home insurance coverage – meaning if something does go wrong, you’re completely on your own financially.

When it’s time to sell your home, non-permitted electrical work can complicate or even kill the sale. And perhaps most sobering of all, you could be legally liable for any damages caused by faulty work.

As one of our master electricians often says, “This isn’t like hanging a picture frame. When it comes to your panel, mistakes don’t just mean redoing the work – they can mean rebuilding your home.”

The true cost of new electrical panel installation includes the peace of mind that comes from knowing the job was done right by qualified professionals.

More info about Upgrade Electrical

What to Ask When Hiring an Electrician

Finding the right electrician for your panel upgrade is crucial. Here are some questions to help you make the best choice:

Start by confirming they’re properly licensed in Georgia and carry both liability insurance and workers’ compensation. This protects both you and the workers in your home. Ask about their specific experience with panel upgrades – how many have they completed, and can they provide references from satisfied customers?

A reputable electrician will provide a detailed written estimate breaking down all costs involved. They should also handle all permit applications and schedule necessary inspections. Other important questions include their timeline, warranty coverage (both parts and labor), and payment terms.

At Dr Electric CSRA, we welcome these questions. Our team of licensed electricians provides transparent estimates and backs our work with solid warranties. We believe an informed customer is a happy customer.

More info about 5-Star Testimonials

Money-Saving Tips Without Cutting Corners

While I’ve emphasized the importance of professional installation, there are legitimate ways to manage the cost of new electrical panel upgrades without compromising safety:

Start with a proper load calculation to ensure you’re installing the right-sized panel. There’s no need to pay for a 400-amp panel if your home only requires 200 amps. Getting multiple quotes (at least three) helps you understand the fair market rate in Augusta and surrounding areas.

Consider bundling related electrical projects with your panel upgrade. Need some new outlets or light fixtures? Doing it all at once can reduce overall labor costs. Many homeowners don’t realize that scheduling during off-peak seasons (typically winter months) might get you more competitive rates as electricians look to fill their schedules.

Don’t overlook potential savings through rebates and incentives. Federal tax credits (up to $600 through EnergyStar programs), state energy efficiency rebates, and utility company incentives can significantly offset your costs. Before your electrician arrives, clear the area around your existing panel – this simple step reduces labor time and can trim your bill.

The goal isn’t to find the cheapest option – it’s to find the best value that ensures your family’s safety and your home’s electrical integrity for decades to come.

Frequently Asked Questions About the Cost of New Electrical Panel

Is upgrading really worth the expense?

When homeowners ask me if a panel upgrade is worth the price tag, I almost always say yes—and here’s why.

First and foremost, safety isn’t something you can put a price on. Outdated electrical panels aren’t just inconvenient; they’re genuine fire hazards waiting to happen. Modern panels have significantly better safety features that protect your family and home.

The functionality improvements are immediately noticeable too. No more playing musical appliances, trying to figure out which ones you can run simultaneously without tripping a breaker. Modern life demands more power, and a new panel delivers it reliably.

There are practical financial benefits as well. Many insurance companies offer meaningful discounts when you upgrade your electrical system—some will even require it to maintain coverage. Plus, the return on investment is solid, with panel upgrades typically recouping 50-85% of their cost in added home value.

I’ll never forget what one of our customers in Evans told us after we completed her upgrade: “I put off upgrading my panel for years because of the cost, but after experiencing flickering lights and constantly tripping breakers, I finally made the investment. The peace of mind alone has been worth every penny.”

How long does a panel replacement take?

The actual hands-on work of replacing an electrical panel typically takes our team at Dr Electric CSRA about 4-8 hours. But I always make sure customers understand that the complete process involves more than just the installation day.

The full timeline usually spans 1-3 days because we need to coordinate several moving parts:

Utility coordination is essential—your power company needs to disconnect and later reconnect service, which requires scheduling on their end. Here in Augusta, we have good working relationships with local utilities to minimize your downtime.

Permit processing typically takes 1-3 business days. We handle this paperwork for you, but it’s a necessary step that requires some patience.

Inspection scheduling happens after installation. Most local jurisdictions in the CSRA require an inspection to confirm everything meets code requirements.

If your project involves additional work like rewiring, the labor time can extend to 20-30 hours, spread across multiple days.

During the main panel swap, your home will be completely without power, so we recommend planning accordingly—perhaps staying with family or scheduling during good weather when you can manage without heating or cooling for a day.

Will a new panel increase my home’s value?

Yes, investing in a new electrical panel definitely boosts your home’s value—both in terms of dollars and desirability.

From a marketability standpoint, homes with updated electrical systems simply sell faster. Today’s buyers are more educated about potential electrical issues and often specifically look for upgraded panels during their home search.

You’ll also have a significant inspection advantage. Electrical problems are among the most common issues flagged during home inspections, and they frequently become negotiation points that cost sellers money. With a modern panel, you’ll sail through this part of the inspection.

The insurance benefits transfer to new owners too. Lower premiums are an attractive selling point that savvy buyers recognize and appreciate.

There’s also the safety assurance factor. Buyers value knowing they’re purchasing a home where the electrical system is safe, reliable, and up to code—no scary surprises waiting behind the walls.

Finally, a higher capacity panel future-proofs the home, making it ready for tomorrow’s technology and lifestyle needs—from EV chargers to smart home systems.

Real estate professionals in the Augusta area tell us that updating an electrical panel typically returns 50-85% of its cost in immediate home value, not counting the advantage of faster sales and smoother closing processes. When you consider the cost of new electrical panel installation against these benefits, the investment makes good financial sense.

Conclusion

When it comes to the cost of new electrical panel installations, I’ve found that most homeowners experience a mix of sticker shock and relief. Sticker shock at the upfront investment—ranging from $850 for basic panels to $4,000+ for high-capacity systems—but relief once they understand the tremendous value they’re getting in return.

After helping countless Augusta homeowners through this process, I can confidently say that the benefits of upgrading your electrical panel far outweigh the costs. Think about it: you’re not just buying a metal box with some breakers. You’re investing in your family’s safety, your home’s functionality, and protection for all those expensive electronics and appliances you rely on daily.

Here’s what I’ve seen consistently across hundreds of installations: most homeowners end up spending between $1,300 and $3,000 for a complete panel replacement. The biggest factor affecting this price? The amperage capacity you choose. A 100-amp panel might work for a smaller, older home, while a growing family with modern power needs will benefit tremendously from a 200-amp or larger panel.

40-60% of what you’re paying goes toward professional labor—and for good reason. Working with your home’s electrical heart isn’t just dangerous; in most places, it’s illegal for non-licensed individuals to perform this work. When a licensed electrician installs your panel, you’re buying expertise that ensures everything is done safely and to code.

Don’t ignore those warning signs we discussed earlier. Flickering lights, frequently tripping breakers, and that buzzing sound from your panel aren’t just annoyances—they’re your home telling you something is wrong. I’ve seen too many homeowners delay necessary upgrades only to face emergency situations later (which always cost more and happen at the least convenient times).

The good news? You may not have to shoulder the full cost of new electrical panel installation yourself. Many of our Augusta clients take advantage of rebates, tax incentives, and even financing options to make their upgrade more affordable. Some utility companies offer incentives for electrical upgrades, especially when they improve energy efficiency.

At Dr Electric CSRA, we understand that electrical panel upgrades represent significant investments for Augusta homeowners. That’s why we provide transparent pricing from the start, detailed written estimates, and flexible payment options. Our team serves Augusta, Evans, Grovetown, Martinez, and the surrounding areas with 24/7 emergency service when you need it most.

Our licensed, in-house electricians handle everything from pulling permits to coordinating with your utility company to final inspections. We don’t consider the job complete until your new panel is installed correctly, meets all code requirements, and passes inspection with flying colors.

Don’t wait for an electrical emergency to force your hand. If you’ve noticed any warning signs or your panel is showing its age (25+ years), give us a call today. We’ll provide an honest assessment and clear recommendations—no pressure, just professional guidance to help you make the best decision for your home and family.

More info about Upgrade Electrical