Replacing your electrical panel can cost anywhere from $4,500 to $11,250 or more. At Cooper Green Team, our average charge for panel replacements is $5,800. There’s a big range in the cost of a new electrical panel, but that’s because it’s a job that can quickly get very complicated.
It’s not simply swapping out an old panel with a new one. Other factors that can affect the total cost include:
- The amperage of the new panel
- Whether or not rewiring is needed
- Installing additional outlets
- The electrician you hire
The more work your home needs, the more it will cost to install a new panel. Upgrades, other infrastructure, and your chosen electrician are some of the largest factors impacting your final price.
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The Amperage of the New Panel
Many Denver homes have panel boxes with a 100-amp rating. While that was more than enough 50 years ago, it’s often not enough to provide power for modern households. A TV in every bedroom, computers, smart appliances, HVAC systems, and all the other newer devices that use electricity put incredible strain on these smaller panel boxes. Don’t even think about the extra power needed with an electric vehicle.
Cooper Works With Local Utility Companies to ensure that adding amperage is possible.
Keep in mind, not all 100 amp Panels can be upgraded to 200 amp. The Local Utility Company ultimately makes that determination.
It will cost more if the new panel box has a higher amperage. The more power you need, the more expensive the panel. Expect a 200-amp panel to cost 2.5x more than a 100-amp. Prices continue to go up as the capacity does.
Whether or Not Rewiring is Needed
One of the biggest and often unexpected costs that can drive the price of a panel replacement is the wiring in your home. Most homes in Denver were built before 1972, which makes them more than 50 years old. If you haven’t already replaced your wiring, it’s probably due. Plus, high amp panel boxes might require a different gauge of wiring.
You won’t really know the total costs until a licensed electrician takes a look at the wiring in your home. You could spend much less on your panel replacement if it’s in good shape and up-to-code. If your home needs rewiring, that can add thousands to the cost.
Installing Additional Outlets
Is the panel the only thing you plan to upgrade? Electrical panel replacement cost often also includes new outlets. After all, why are you updating your panel? If it’s not broken, the answer will likely have more access to more power. You may want to install a fast charging outlet for an electric vehicle or add more outlets throughout your home.
Older homes often have only one or two outlets per room, which may not be enough for a modern household. You might need three or four in the kitchen alone, depending on your preferences and gadgets. In bedrooms, four plugs mean you’re reaching for surge protectors to give you a place to plug in your phone, tablet, e‑reader, TV, game systems, medical devices, and anything else that lives in the bedroom. More outlets are more convenient; if you’re already updating your panel, it’s a good time to add them.
The Electrician You Hire
The company you choose to do the work also impacts the final price. You can collect estimates and go with the lowest one, but that may mean you don’t get the quality and comprehensive work you want. Electrical work is one of the worst areas for a cut-rate contractor since bad wiring or electrical faults can cause major property damage.
When looking for a qualified electrical contractor, search for a company that:
- Only uses licensed electricians
- Has a reliable and positive online reputation
- Offers service guarantees
- Provides an upfront estimate that details the scope of work
- Has been in business for a long time
- Offers free estimates
The Cooper Green Team does all of this, which makes us one of the leading electrical contracting companies in the Denver area. Our thousands of 5‑star reviews and industry-leading warranties make us a worry-free option when you need electrical work.
Ready to upgrade your electrical panel?
Contact the Cooper Green Team today for a free estimate on a panel replacement. Our licensed electricians are highly trained and experienced, so you can have peace of mind that the job is done safely and accurately the first time around.