If you know you have an old fuse box or circuit breaker but are having a hard time deciding if the benefits of installing a new electrical panel outweigh the cost, let us assure you they do.

First, if you’re noticing symptoms of a bad circuit breaker, they’re not just an inconvenience. A circuit breaker that’s going bad can be extremely dangerous. 

So, let’s take a look at all the benefits you can receive from have a new electrical panel installed.

A new electrical panel is safer

Like we said earlier, an outdated electrical panel is extremely unsafe. 

A faulty panel can lead to damage to your appliances and anything else plugged into an outlet. It also puts you at risk for a house fire. 

Upgrading your electrical panel lowers your bills

Sure, the cost of a new electrical panel may seem steep at first.

However, it will save you money in the long run. 

Not only can it possibly save you money on your home insurance (call and ask your agent) but it provides power more consistently than older models as we will explain next. 

That means it’s running more efficiently and will save you money on your electric bills too.

Updated electrical panels provide “cleaner” power

You might hear an electrician say the newer panels provide cleaner power. What they mean is it provides a more consistent level of power. 

Older electrical panels oftentimes allow for fluctuation which is hard on modern electrical appliances and your other new technology needs. 

At best, this causes a nuisance and trips your circuit breakers repeatedly. 

At worst, it can damage your appliances and other electronics.

Don’t try to hold off on replacing your outdated electrical panel in an attempt to save money because it could cost you more money by paying for repairs or replacement appliances. And then you’ll have to replace the panel in the end anyway.

You can have extra circuits added at the same time

If you have an outdated electrical panel, chances are you might not have enough circuits either. 

You might have already noticed this if you’ve gone to plug something in and found no empty outlets. 

Or, you may be using several power strips to give you more places to plug in.

However, this issue goes beyond just an inconvenience. 

If you have too many things drawing power from a few circuits, you can overload the circuit.

This can cause the circuit breaker to continuously trip or, you guessed it, overheat the circuit’s wiring and lead to a fire.

An upgraded electrical panel will have more slots for dedicated circuits and an electrician can run wiring for more spots for you to plug in at the same time. 

A new electrical panel adds value to your home

Adding a new electrical panel will increase your home’s resale value because it will be safer, more efficient, and every other benefit we listed here.

What an electrical panel upgrade process is like

Unless you have an advanced knowledge of electrical work, you will need to hire a licensed electrician to upgrade your electrical panel. 

It’s safer, you’ll know it’s done right, and they can likely get it done faster.

A panel upgrade/replacement can take an electrician about eight hours or more to complete. It will take longer if you need more circuits added as well.

First, the electrician will come in and evaluate your home to see what size of panel you need and however many circuits you need added. 

Then, if needed, they will obtain the required permits for the job and schedule the utility company to come out and disconnect the power to your home at the most convenient time for you.

Next, the electrician will get to work on the upgrade!

After they’re done, it’ll need inspected and approved before the utility company turns your power back on. 

Now you have peace of mind that your home is safe and powered efficiently!