By QuoteIron TeamUpdated 6 min read
Key takeaways
- A “panel upgrade” is two jobs. Same-size panel swap: 9 hours plus $1,200 of parts, $2,415 at $95/hour. 100A to 200A service upgrade: 14 hours plus $1,700, $3,540.
- This is labor-heavy work: from $75 to $125 an hour moves the 200A upgrade by $700 ($3,260 to $3,960).
- Bigger service is priced separately: 400A is $6,060 and a 100A garage sub-panel is $1,045 at $95/hour.
- The service upgrade already includes the outdoor disconnect, surge protector, grounding and bonding, plus permit and utility coordination; the same-size swap lists the permit separately.
- Aluminum wiring, double-taps and an undersized ground are change orders: tell the customer what you will do if you find one.
Related: How to price a water heater replacement · How to build a flat-rate price book · How to write a change order · electrician flat-rate price book · QuoteIron help
The numbers come from QuoteIron’s own price book (priced September 2026). The book stores structure — typical labor hours and a mid-grade parts cost — and your rates do the pricing: hours × your hourly rate, plus parts at cost with your markup on top, rounded up to the next $5. Every dollar figure below is that formula at a stated sample rate, not a survey of what your market pays. Swap in your own rate before you quote anyone.
Where the money goes: labor, parts, markup
A “panel upgrade” is really two different jobs customers describe with the same words. Replacing a failed or recalled panel at the same size is one; upgrading the whole service (new meter socket, mast, conductors, panel, grounding and bonding) is the other. The book prices them separately. At the sample defaults of $95/hour and 30% markup:
| Job | Labor | Parts at cost | Markup (30%) | Price |
|---|---|---|---|---|
| Replace panel, same service size | $855 | $1,200 | $360 | $2,415 |
| Upgrade 100A to 200A service and panel | $1,330 | $1,700 | $510 | $3,540 |
The 100A-to-200A upgrade is labor-heavy: 14 hours is $1,330 of the price, and the parts markup is $510. The book’s description for the 200A upgrade already includes the required outdoor disconnect and surge protector, grounding and bonding, plus permit and utility coordination. The same-size panel replacement lists the permit as separate. Read the description of whichever template you pick so you never double-count or forget a permit line.
The same jobs at three labor rates
| Job | Hours / parts | At $75/hr | At $95/hr | At $125/hr |
|---|---|---|---|---|
| Replace panel, same size | 9h / $1,200 | $2,235 | $2,415 | $2,685 |
| Upgrade 100A to 200A | 14h / $1,700 | $3,260 | $3,540 | $3,960 |
| Upgrade service to 400A | 20h / $3,200 | $5,660 | $6,060 | $6,660 |
| Add 100A sub-panel, garage | 5.5h / $400 | $935 | $1,045 | $1,210 |
On service work, labor hours matter far more than on a water heater. Going from $75 to $125 an hour moves the 200A upgrade by $700, because you are on site two days. This is the job where a low hourly rate hurts most, and where the book’s hour counts are the part worth testing against your own experience.
What moves the price
- Permit and inspection. Pass-through. The book’s separate permit line is below; the fee itself varies by city.
- Utility coordination. The power company has to disconnect and reconnect. If it is a weekend or a wait, that is your time on the clock.
- Panel location. A panel in a closet or bathroom may have to move to meet working-clearance rules. The book prices relocation as its own 14-hour job.
- Surprises behind the cover. Aluminum wiring, double-taps, an undersized ground. Each one is a change order, so tell the customer up front what you will do if you find one.
| Related line in the book | Hours / parts | Price at $95/hr |
|---|---|---|
| Electrical permit and inspection (pass-through) | 1.5h / $150 | $340 |
| Load calculation (EV or heat-pump upgrade) | 1h / $0 | $95 |
| Upgrade grounding and bonding | 2h / $90 | $310 |
| Replace meter base, mast and weatherhead | 6h / $450 | $1,155 |
“This is the job where a low hourly rate hurts most.”
Florida note
- Sales tax on parts. Florida Department of Revenue publication GT-800067 (rev. 09/14) lists an electrical system as real property and says that on lump-sum, cost-plus, fixed-fee, guaranteed-price and time-and-materials contracts the contractor pays sales tax on materials and should not charge the customer tax. Panels, meter sockets and breakers are a cost, so carry that tax in your parts price. Confirm your own situation with the Department or your accountant.
- Permit, licensing and utility. Service and panel changes are permitted and inspected locally, and the work has to be done by someone licensed to do it in your county — this guide does not verify local rules, so check your building department and your utility’s requirements for reconnecting service before you quote.
- Season. Summer attic and exterior-wall work is slower. Price the hours you will really spend.
Sourced fact above: Florida Department of Revenue GT-800067, read October 6, 2026. Permit and licensing rules vary by city and county. General information, not tax, legal or licensing advice.
Offer three options: Good, Better, Best
Most customers who call about a panel do not know which of the two jobs they need. Put the choice in front of them using lines already in the book, at the $95 sample rate:
| Option | What is in it | Price at $95/hr |
|---|---|---|
| Good | Replace the panel at the same service size | $2,415 |
| Better | Upgrade 100A to 200A service and panel | $3,540 |
| Best | Upgrade the service to 400A | $6,060 |
These are three separate templates in the book, not add-ons to each other, so each price is a full job. Read each template’s description before you send it so a permit or utility line is neither double-counted nor missed.
When the customer pushes back on the price
- “The other electrician said less.” Ask which of the two jobs he quoted. A same-size swap and a service upgrade are different jobs with different hours.
- “Why so many hours?” The 200A upgrade is 14 hours because it covers the meter socket, mast, conductors, panel, grounding and bonding.
- “Do I really need 200 amps?” Offer the Good option and show the load calculation line ($95 at the sample rate) when an EV charger or heat pump is on the way.
- “What if you find something behind the cover?” Say so before you start: aluminum wiring, double-taps and an undersized ground are written up as change orders.
How to quote it
- Set your rate and markup once, so every line is yours.
- Pick the right template: same-size panel, 200A service upgrade, sub-panel or 400A service.
- Add permit, load calculation, grounding and meter-base lines where they apply.
- Ask for a deposit — panel jobs involve a lot of parts ordered up front.
Prices checked October 6, 2026 against QuoteIron’s price book (priced 2026-09). Hours and parts are typical starting points; your market, supplier and site conditions decide the real number. Not legal, tax or licensing advice.
