Your electric panel might be severely outdated, especially if you purchased an older home. They can last up to 40 years or more depending on many factors, but anything over 25 years old could be considered dangerous and should be monitored closely or serviced and replaced to ensure it works properly (and safely). Things like regular wear and tear or frequent power surges can cause electrical panels to age faster.

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​A standard 200 amp home, though, should cost around $1,450 to upgrade your electric panel. So, if you’re looking to upgrade your electric panel and need more outlets or space for a larger home, expect to spend between $1,000 and $2,000. Older homes may cost more simply because the system itself can be a mess to navigate and electricians might find they need to replace more than just the electric panel itself.