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Originally Posted On : https://lrelectrical.co/the-benefits-of-upgrading-your-electrical-panel/
An electrical panel—also known as a breaker box or circuit breaker panel—is a metal box containing electrical components.
It’s responsible for distributing electricity throughout your home. Essentially, it’s the central hub of the electrical system that regulates the flow of electricity to different circuits across the building.
Due to its essential role in keeping your household electricity-fueled, we recommend upgrading it if you’re installing new appliances, have increased power demands, or whenever suspect it may be faulty or compromised.
How do you know if it’s impaired or not supplying power appropriately? It could be challenging to tell if you’re basing your assessment on the everyday use of electrical outlets. Some issues can be tricky for the untrained eye to isolate. If you suspect a problem festering beneath the panel doors, always seek the professional advice of a licensed and reputable electrician.
Now that we’ve covered the importance of leaving hazard-inducing inspections to the pros, let’s discuss why you should upgrade your electrical panel and how it is crucial to your home’s well-being.
Ensure You Are Compliant With the Latest Safety Regulations
When your home has an outdated or damaged electrical panel, it may not have the capability to handle the demands of modern electronics and appliances. In this case, you could experience negative effects like:
- Power outages
- Electrical fires
- Damage to your home
- Personal injury
- Liability
When you have a qualified electrician perform service on your panel, and they determine it is outdated, they’ll inform you that it needs to be upgraded to comply with local safety codes and regulations.
Failure to take care of electrical repairs and panel replacements can leave you at risk of incurring hefty fees and being exposed to hazards and liabilities that can be catastrophic.
The good news is that most major homeowners’ insurance plans cover the fees to replace an outdated or damaged panel.
Increase Your Home’s Electrical Capacity
Upgrading your electrical panel will increase your electrical capacity, enabling you to add new appliances like air conditioners or electric car charging stations. Suppose you have a growing family, and your home has multiple bathrooms. With a panel upgrade, you won’t need to worry about blowing a fuse when more than one person uses a hair blower simultaneously.
Better yet, by upgrading your panel from a dated unit to a modern, heavy-duty one, you won’t need to worry about power surges and electrical overloads causing damage to your appliances and electronics or costing you hefty bills.
Facilitate the Use of Modern Technology
Do you enjoy the conveniences of smart technology? If so, your home needs to be set up to facilitate its energy demands. With an upgraded panel, you can seamlessly use your gadgets and utilize their energy-efficient capabilities. For example, if you want to install a smart home system, you need an electrical panel to handle the additional load. The same goes for a smart lighting system.
Upgrading your electrical panel will ensure your home is equipped to handle the latest technological trends and that you can enjoy all the conveniences it offers. Remember that older panel units can still be used, but they won’t allow your products to operate at their maximum efficiency.
Install a New Electrical Panel to Increase Your Home’s Value
This might be one of the more obvious benefits of moving your home’s electrical system to a new panel. Potential homebuyers want to move into a ready-to-live-in house that costs no extra money on upgrades and renovations.
If you’re trying to keep your home competitive in the market, don’t overlook the importance of replacing your electrical panel.
When your home is evaluated, you will receive bonus points and an optimal value for keeping your panel modern and new.
Here are some of the ways installing a new electrical panel can add value to your investment:
- Improved safety
- Compliance with modern building codes
- Increased energy capacity
- Energy efficient
- Smart technology compatible
As mentioned above, home insurance may cover the upgrade, so it’s wise to check with your provider to inquire about coverage.
Increased Home Insurance Discounts
Speaking of insurance, upgrading your panel will result in home insurance discounts. Who doesn’t love the idea of lowering monthly or annual fixed energy bills? You can take advantage of the fact that many home insurance companies offer discounts to homeowners who have upgraded their electrical systems as an incentive for meeting modern safety standards.
Contact your insurance provider to inquire about their requirements. You might need to invite an electrician for an inspection to certify that your system qualifies, making you eligible for discounts on your home insurance premiums and saving you money over time.
Will a New Panel Lead to Improved Appliance Performance?
A modern electrical panel can improve the performance of your home’s appliances.
Upgrading to a model with increased capacity and advanced features such as power factor correction can ensure that your appliances operate at peak efficiency. In turn, it can help reduce energy consumption and extend the lifespan of your machines.
With a panel upgrade, you can look forward to reduced voltage fluctuations and increased surge protection for sensitive electronics and other equipment.
If your home’s appliances are the latest models with all the fancy specs and features, you want to ensure your electricity box can accommodate its many uses.
To Sum Up
Upgrading your electrical panel can offer your home a wide range of benefits, including:
- Improved safety
- Increased capacity
- Compliance with building code
- Energy efficiency
- Increased home insurance discounts
By taking advantage of these benefits, you can enjoy greater comfort, convenience, peace of mind, and potential savings on your energy costs and insurance premiums.
When you’re considering upgrading your electrical panel, we recommend leaving it to a licensed professional who puts the safety of your household and its occupants first.
LR Electrical & Remodeling is proud to be a reputable electrical company that knows the ins and outs of electrical panels. We’ll help you pick the best model for your home’s demands and install it seamlessly.
Please fill out our contact form on our website, and we’ll get back to you with a quote.
