Usually, when we replace an electrical panel (also called a breaker box), it’s because the panel is outdated and dangerous (a fire hazard), the home needs more electrical capacity than the old breaker box can handle (breakers keep tripping), or there is a problem with the functioning of the panel (they can be damaged by aging and moisture). What many homeowners don’t realize is that there are other advantages to updating your breaker box.
1. New Electrical Panels Save Energy
According to recent data, a new electrical panel can save anywhere from 10-30% on energy use. A brand new panel from is tailored to provide the electrical load required, not the maximum electrical load that it can pull from the grid. This optimization helps to reduce power consumption and electrical costs over time.
2.Updating Your Breaker Box Makes Your Home Safer
Electricity can be deadly if not handled properly. New electrical panels include arc fault protection, GFCI protection, and surge protection so your home, the people in it, and expensive electronic equipment, are all safer. All of these factors also prevent damage to the electrical system itself and will help you avoid expensive repairs.
3. Updated Electrical Panels Add Resale Value to Your Home
Studies have shown that a new electrical replacement panel can actually be worth between $2,000 and $5,000 to a home’s value. That provides an immediate return on the investment to upgrade the electrical system.