Installing a new electrical panel can require thousands of dollars — more if a utility needs to run a higher-capacity electric supply wire to the house. Here are some technologies available to help homeowners sidestep such hurdles.
When Lee-Sean Huang and his husband, David Colby Reed, decided to decarbonize their 120-year-old Providence, R.I., home, they discovered it wasn’t even ready for a high-efficiency electric induction stove.
For homeowners, installing a new electrical panel can require thousands of dollars — more if a utility needs to run a higher-capacity electric supply wire to the house. A new electrical panel can cost $2,000 or more, depending on the complexity of the installation. Sometimes, your utility will need to run a new electric supply wire to the house to handle the greater capacity, which can add thousands of dollars and take weeks or months to complete. If the supply wire has to be routed underground, costs can exceed $10,000.
For instance, you might overload a 100-amp panel if you come home and plug in your electric car, turn on the heat pump, and do a load of laundry. A smart panel could automatically delay charging the car until the end of the spin cycle to avoid that. The Inflation Reduction Act offers a rebate up to $1,750 for heat pump water heaters; that would cover much of the cost of the 120-volt ProTerra, which has a retail price of $1,904 to $3,156, depending on the water tank capacity.One other solution to an aging electrical panel is to avoid using it wherever possible.
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