Electrical Panel Upgrade Cost Estimate Reveals Huge Savings
Cost Estimates and Potential Savings
The cost of upgrading an electrical panel can vary widely depending on several factors, including the panel's size, the complexity of the installation, and local labor rates. On average, homeowners can expect to pay between $1,000 and $3,000 for a typical panel upgrade1. However, the long-term savings can be significant. For instance, a modern panel can reduce energy waste and improve efficiency, leading to lower utility bills. Additionally, by preventing electrical failures and potential fires, you can avoid costly repairs and insurance claims.