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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 average home is going to require a minimum of 100 amp service, but it isn't unheard of to see installations of 200 amps and more. For this discussion we will look at the costs of upgrading the average home from 40 amps to a new panel with 200 amp service.The average cost for a 200 amp upgrade is going to be from $1300 to $3000 (including materials).dditional considerations and costs. The wisest course of action for electrical circuit panel installation is to work with a licensed electrician who can help to accurately determine the precise needs for the home in question.