Last Updated on October 24, 2023 by Kevin Chen
Electrical integral system in both homes and commercial places. It is designed to ensure that all the electrical devices and appliances run smoothly. You will realize its importance when something goes wrong forcing you to look for emergency solutions.
An electrical panel upgrade is something that most people tend to think about. After relying on your electrical panel for ages, you may be considering doing an upgrade.
But why are such upgrades so costly? Read on as we will to give the appropriate answers. We will further explain why the upgrade is worth the cost.
What is an electrical panel upgrade?
First things first, let’s define what an electrical panel upgrade is. From there, you will understand everything about it, including why you are likely to pay a high price for the upgrade.
An electrical panel upgrade is the replacement of a panel that has already been installed in your home or commercial place. This upgrade is done so that the electrical devices and appliances run smoothly.
It is also used to replace the old panel with a new one.
The upgrade usually entails the replacement of the existing wiring, fuses, and components. It is also important to replace the electrical panel with a new one.
The upgrade may entail upgrading your circuit breaker, fusebox, or even service from 100amps to 400amps.
This is so you will be able to connect your home appliances as well as your electrical devices. The old panels may not be able to handle the current load placed on them by your home appliances and electrical devices.
Why is the cost so high?
Let’s look at the key reasons why you are likely to pay a high cost to upgrade your electrical panel, whether it is for domestic or commercial use.
The cost of electrical panel
You will realize that the cost of an electrical panel is quite high and that is why you should consider doing an upgrade. The cost of an electrical panel is not only about the initial price but also about installation and maintenance costs.
The initial cost of an electrical panel may range between $1500 to $4500 depending on various factors. This includes the type of panel you choose to buy, the number of breakers and panels, and other factors.
Take your time to compare the cost of electrical panels. You will see that there is a wide range of costs. You should go for the electrical panel that comes at an affordable cost.
Cost of installation
An electrical panel upgrade is considered costly because of the cost of the installation process. Now that you have brought the panel onsite, the next step is to look for a professional who will handle the installation. Ensure that the person meets the minimum requirements for doing the job.
Even though you may end up paying a high price for a highly trained installer, you will be sure of getting quality work done. This is contrary to hiring a cheap installer who is likely to do shoddy work.
In addition to this, the installation cost will also vary depending on the size of your panel. In case you need a bigger one, then installation cost will be higher as compared to a small one.
Installation costs can also be determined by the location where the electrical panel has been installed. For instance, if it is installed in a commercial place, then installation costs tend to be higher than those in homes.
So, are you ready to part with the initial cost of buying and installing the electrical panel? This is one of the core reasons why the cost of upgrading tends to be high.
Maintenance costs
You should also consider maintenance costs when you are considering doing an upgrade on your electrical panel. Maintenance involves fixing any damage to the electrical panel, replacing fuses, and other things.
It is highly recommended to make sure that you get a warranty when you buy an upgraded electrical panel so that you can get it repaired if any part of it breaks down within the warranty period.
When buying an upgraded panel, consider checking for its warranty and whether it will be easy to fix if it gets damaged as this may help save some money in the long run.
Materials and accessories costs
This is another key reason why an electrical panel upgrade is costly. When upgrading, you will need to buy new materials such as wiring, fuse box, and other accessories.
The cost of these materials is determined by the type of electrical panel you are upgrading to. Since you will be doing an upgrade, the cost is automatically expected to be higher than the ones on your current panel.
Are the high costs of the upgrade worthy?
We have just seen why you are likely to incur a high cost for upgrading your electrical panel. The next question that you should ask yourself is, is the upgrade worth the cost?
The answer is yes. You should have no regrets about spending a colossal amount of money on the upgrades. Here are the top reasons why the electrical panel upgrade is worth every penny:
It keeps your place safe
The electrical panel is the heart of the entire electrical system of your place. This means that if there are any problems with it, they will affect the entire system. When it comes to issues, you do not want to take chances.
You should ensure that you have a reliable electrical panel that can keep your place safe from fire hazards and other related issues.
Furthermore, the reports on fire accidents caused by electricity are astonishing. You definitely don’t want to be on this statistics.
It keeps your appliances working
If you have outdated electrical panels, you are likely to encounter a lot of problems with appliances such as lights and television. The upgrade will ensure that all your appliances work as expected and for a long time without encountering any issues.
It saves money in the long run
If you do not upgrade your current electrical panel, it will eventually cause you a lot of money. This is because you will have to spend a lot of money on repairing it and other related issues. The upgrade will ensure that your place has a reliable electrical panel that does not have any problems.
Protects your appliances
You can never be sure of how safe your appliances are. When it comes to the electrical panel, you have to ensure that it is safe for use. With a reliable electrical panel, you will have peace of mind knowing that your appliances are protected from fire hazards and other related issues.
It helps in the increase of the home value
The quality of your home is what matters most when selling it. A lot of people will not consider buying a house with an outdated electrical panel even though they are in good condition.
This is because they do not want to take chances with their safety and security. If you want to sell your place at a fair price, you should consider upgrading its electrical system as soon as possible.
Reasons to consider upgrading my electrical panel
When should I consider upgrading my electrical panel? This is just one of the questions that you may be asking with regards to the high cost of the upgrade.
Here are some of the top reasons that will motivate, if not push you to do the panel upgrade:
Increase in power demand
When your power demands increase, it is a clear sign that you need more power to be produced. This can be attributed to the fact that your appliances are getting bigger and more powerful. For instance, you may want to upgrade from a two-door refrigerator to a four-door one.
If you do not upgrade your electrical system, there is a high chance that you will use the old system beyond its capacity. This will cause problems with the supply of electricity and also compromise safety.
The easiest way to ensure that your home is powered by enough electricity is by doing an electrical panel upgrade.
Upgrading for safety
When it comes to electrical panels, it pays for homeowners to prioritize their safety over anything else. The reason is that there are many appliances in our homes that pose a risk of electrocution when they malfunction.
A common example is the microwave oven. When it overheats, it can cause a fire in your kitchen. The same thing happens with the toaster, which can cause a fire in your kitchen if you leave the bread inside for too long. These appliances may not be working as intended, but this does not mean that they are not dangerous.
When you go to replace your electrical panel, you will have the ability to upgrade from one type of panel to another without having to worry about any safety risks. You can also decide on what type of panel you want for your home based on their safety standards and ratings.
Lowering your electricity bills
Upgrading your electrical panel is a great way to lower your electricity bills. The reason is that you will be able to use less energy in your home and still have the same amount of power.
This means that you can use smaller appliances or even appliances that do not need to be plugged in. This will allow you to save money, but it also means that you will be using less energy overall.
Constant power surges
If you have not upgraded your electrical panel, you may be getting constant power surges. For example, if you are using a vacuum cleaner and the power surge is too much for it to handle, it will stop working. You also might have seen that the outlet for your TV keeps shutting off and on.
These are all signs that you need to upgrade your panel as soon as possible.
Energy efficiency
When you upgrade your electrical panel, you will be able to use more energy-efficient appliances and fixtures. This means that the amount of energy that is being used in your home can be reduced by using more energy-efficient appliances.
You can also keep track of how much electricity is being used in your home by installing a monitoring system.
Your circuit breakers trip frequently
If you have a lot of appliances in your house, the circuit breakers may get overloaded. This will cause them to trip frequently.
This is a sign that your electrical panel needs to be upgraded. You can easily tell if your circuit breakers are overloaded by looking at the amount of time that it takes for them to trip on and off.
Your electrical panels are not sized correctly
If you have any appliances that need to be plugged into an outlet, it is important that they are plugged into the correct outlet. This means that your panel needs to be upgraded so it can handle all of the outlets in your home correctly.
Rusted and worn out parts in the current panel
If you have a rusted or worn-out panel, it is important that you replace it. This will allow you to have better control of your electrical system and prevent any more problems from happening.
Bad wiring
If your wires are frayed or damaged, it is important that you replace them. This will help to make sure that your system runs properly and prevent any more problems from happening.
If there are any wires in your electrical panel that are damaged or frayed, it is important that they are replaced immediately. This will help to prevent any more problems from happening and allow you to have better control of your electrical system.
Conclusion
I hope that this article has helped you to understand the importance of upgrading your electrical panel for your home or even business. Now you know why you are likely to incur a high cost for the electrical panel upgrade.
In case you want to buy a new electrical panel in China, let ICRFQ be your partner. We are a supplier and sourcing agent for electrical panels in China. You can contact us for more details.
If you want to find more Electronic Components Distributors, please check out the following articles:
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