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Electrical contractors are highly trained professionals that earn a good hourly rate for their services. An average panel upgrade takes about 8 to 10 hours to complete. At anywhere from $50 to $80 an hour, a client can expect to pay between $500 and $800 for their project labor. Typically, wage guidelines are established by an official body like the National Electrical Contractors Association.
The standard for household power used to be 60 amps. But modern homes may need as many as 200 amps to run air conditioners, computer equipment, high-definition televisions, and high-tech home automation devices. The cost of upgrading your existing electrical service panel to a 100- or 200-amp panel is $800 to $3,000. New Wiring: Open Your Walls (and Your Wallet) To handle increased electrical loads, itâs likely youâll also need to upgrade electrical wiring, especially if your house is more than 40 years old.