Upgrading your home’s electrical panel can feel daunting, especially if you’re a first-time homeowner or living in an older property where the electrical system might be outdated or underpowered. At first, it might seem like the only thing that matters is amperage. However, upon closer examination, it becomes clear that panel pricing is much more complex than simply choosing between 100 amps and 200 amps.
The true cost of a new electrical panel extends far beyond just the amp rating. From the panel’s specifications and the number of circuits to labor, permit requirements, and future-proofing factors, many elements influence the final price. Knowing these details isn’t just useful; it’s crucial for making informed choices about your home’s safety and energy efficiency.
This blog will explain the factors that influence the cost of a new electrical panel, so you know what to expect and how to budget accordingly.
If you're in Colorado Springs and ready to upgrade, Awesome Home Services can help! Call us at (719) 350-3917 or send a message online to schedule a convenient appointment with our electricians. We’ll perform a thorough assessment and give you a transparent quote.
Choosing the Right Panel: Unit Specs, Capacity, and Sizing
When it comes to the electrical panel itself, several factors affect its price. It’s not just about how many amps it can handle—it’s also about what your home needs now and what you might require in the future.
Amperage and Capacity
Most modern homes need at least a 200-amp panel to safely power everything from central air systems to high-wattage kitchen appliances. Upgrading from an older 100-amp panel isn’t just a good idea—it’s often necessary. Higher amperage panels do cost more, but they offer the stability and power your home requires to operate safely and efficiently.
Sizing for the Future
If you're not planning any future upgrades and your electrical demands are modest, a 100-amp panel can still be a valid, code-compliant choice, especially when installed as part of a modern, safe, and updated system.
But if you anticipate adding a few new circuits or need one major upgrade (like a hot tub or a high-powered appliance), a 150-amp panel offers a balanced middle ground. It gives you just enough room for moderate growth without the full investment of a 200-amp setup.
Going up to a 200-amp panel gives you the most flexibility. Whether you’re planning to install an EV charger, add a workshop, finish a basement, or build a home office, a 200-amp panel offers the capacity and stability to support it safely. Sizing up your panel now can save you from a much larger project later. A 200-amp or larger panel might cost more upfront, but it offers flexibility, peace of mind, and room to expand without needing another upgrade.
Main Panels vs. Subpanels
Not every upgrade requires a full replacement of the main service panel. Sometimes, a subpanel is sufficient, especially when adding a separate structure, such as a detached garage or workshop. Subpanels distribute power from your main panel to specific areas and typically cost less; however, they aren't a replacement for complete service upgrades. Your electrician can help you decide which type of panel suits your project.
Number of Circuits
Electrical panels are equipped with a specific number of circuits, each one controlling a distinct area or appliance. The more circuits your panel has, the more it costs, but it also offers greater flexibility and lowers the chance of overloading circuits. If you’re planning to use many high-powered devices or appliances, choosing a panel with more circuits is a wise decision.
Installation Factors That Impact Cost: Labor, Permits, and Complexity
The price of the panel is just one part of the overall cost. Labor and installation difficulty are where costs can differ, especially in older homes that often pose more challenges.
Existing Wiring and Condition
If your current system still uses outdated components, such as knob-and-tube wiring, you may need partial or full rewiring to ensure compatibility with a modern panel. Even homes with newer wiring may require updates if the gauge is too small or the insulation is damaged. This can add four to eight hours (or more) of labor and extra material costs to the project, but it’s vital for safety.
Permits and Inspections
In Colorado Springs and nearby areas, permits and inspections are essential for upgrading electrical panels. Although these requirements add to your project costs, they ensure the work is up to code, safeguarding your home and family from risks like faulty wiring or overloaded circuits. Inspection timelines may also influence how long the project takes, but the final result is a code-compliant system that is safe and ready for the future.
Panel Location
Relocating your panel from one spot to another—such as from inside the garage to an outside wall or vice versa—can significantly increase costs. Panel relocation requires extensive rewiring and possibly structural changes, which raise labor and material costs. Nevertheless, strategic relocation can improve your system’s accessibility, efficiency, and compliance with codes.
Load Calculation
Before any installation, a professional electrician will perform a load calculation to determine how much power your home uses on average. This helps size the panel correctly and ensures your electrical system won’t be overloaded. It’s a safety-first, efficiency-focused step that sets the stage for a successful, long-lasting installation.
More Than the Panel: Additional Services That May Affect Your Estimate
Upgrading your panel is often the perfect opportunity to pursue related improvements—some essential, some optional—but all aimed at boosting safety, performance, and value.
New Circuit Breakers
Many older circuit breakers aren’t compatible with modern panels, and worn-out or mismatched breakers can be a fire hazard. If your existing breakers can’t be reused, you’ll need new ones, which adds to the total cost of the panel upgrade. However, this investment helps ensure your electrical system works safely and reliably.
Dedicated Circuits
Appliances like refrigerators, dishwashers, microwaves, and EV chargers benefit from (and often require) dedicated circuits. Each circuit has its own breaker and dedicated wiring, ensuring reliable power delivery and reducing the chance of tripped breakers. Adding these circuits improves safety and convenience, but the cost will vary depending on the number required.
Partial Rewiring
If you're planning a kitchen or bathroom remodel—or if certain areas of your home still use outdated wiring—your electrician might suggest rewiring specific sections along with the panel upgrade. It’s an extra cost, but bundling these upgrades into one project often saves money compared to doing them separately later.
Why a Professional Assessment Is Worth Every Penny
It’s tempting to look up rough estimates online or assume your neighbor’s upgrade will cost the same as yours. However, every home is different, and using a one-size-fits-all approach to electrical upgrades can cause hidden issues or dangerous mistakes.
Accurate Assessments Prevent Surprises
Electricians don’t just inspect the panel—they assess your entire system. From detecting overloaded circuits to identifying faulty wiring, they find issues that online calculators and DIY checks overlook. This results in a more accurate quote and a safer, more efficient outcome.
Tailored Recommendations
Your panel upgrade should match your home’s current needs and future goals. Whether you're working with a limited budget, aiming to add cutting-edge technology, or planning for an EV charger later, a professional will develop a solution tailored for you.
Safety and Compliance
DIY panel work or hiring unlicensed contractors can cause serious risks, such as electrical fires, electrocution, or carbon monoxide leaks (especially when electrical systems interact with HVAC). Professional installations comply with local codes, including those in Colorado Springs, and safeguard your home legally and physically.
Efficiency and Warranty
Proper installation ensures your new panel operates efficiently and lasts longer. It also helps you avoid expensive repairs and energy waste. Additionally, many manufacturers require licensed installation for warranties to stay valid—cutting corners could end up costing you more.
Make the Safe, Smart Investment with Our Team
Upgrading your electrical panel is a valuable investment in your home’s safety, efficiency, and future readiness. The total cost varies based on factors such as unit specifications, labor, additional upgrades, and professional insights. Knowing these elements helps you make confident, well-informed decisions.
At Awesome Home Services, we simplify the upgrade process and make it stress-free. With skilled electricians, transparent pricing, and flexible scheduling—including weekends and same-day appointments—we serve homeowners across Colorado Springs and nearby communities.
Contact us at (719) 350-3917 to schedule a professional assessment of your electrical panel. Let’s power up your home with awesome service at every step.
