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Will Upgrading My Breaker Box Reduce My Electric Bill?
Avoid breaking the bank by upgrading your breaker box
Photo: Natalia / Adobe Stock
Photo: Natalia / Adobe Stock
Upgrading your breaker box can reduce energy usage, which may lower your monthly electric bill.
Additional benefits of upgrading include increased safety and future electrical capacity, along with fewer electrical issues.
Drawbacks of upgrading your electric panel include high upfront costs and the inconvenience of a lengthy installation.
If you’re unable to upgrade your breaker box, consider alternative ways to lower your electric bill, such as reducing electricity usage and conducting an energy audit.
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Your electric bill is one of the many ongoing costs of homeownership. So, naturally, you may be looking for ways to lower your monthly payment. Can upgrading your breaker box help reduce your bill? Here’s everything you need to know before updating your home’s electrical system.
Will Upgrading My Breaker Box Reduce My Electric Bill?
The short answer is yes—upgrading your breaker box can lower your future electric bills. Your breaker box is responsible for distributing electricity from utility lines to appliances, outlets, and light fixtures in your home. However, older breaker boxes weren’t designed to keep up with the energy needs of modern households. This overload often causes inefficient power distribution, which makes your energy bill more expensive.
Upgrading to a newer system can prevent energy waste and bring significant savings on your energy bill over time. Additionally, a circuit breaker upgrade makes your home safer which boosts the property value of your home.
Pros and Cons of Upgrading a Breaker Box
Photo: Scott Habermann / Adobe Stock
Of course, any home update comes with potential pros and cons, and upgrading your electric panel is no exception. A qualified electrician in your area can help you decide if an upgrade is right for your home.
Pros of Upgrading a Breaker Box
Increases your home’s property value
Fewer power surges
Increased electrical capacity
May qualify for tax credit
May lower your homeowner’s insurance
May reduce monthly energy bill
Reduces dangerous electrical hazards
Cons of Upgrading a Breaker Box
Higher initial cost to replace an electrical panel
Coordinating with your local utility company may result in installation delays
May negatively impact your neighborhood’s electrical grid
May require permits and inspections
Power will be shut off during installation, causing inconvenience
Alternative Ways to Reduce Your Electric Bill
Upgrading your breaker box is only one of many ways to reduce your monthly electric bill. Lowering your electric bill ultimately comes down to reducing your energy usage. That means small tweaks to your daily habits makes the difference in your long-term savings.
Here are practical ways to lower your electric bill:
Seal any cracks and gaps in your windows, doors, and baseboards
Lower your thermostat
Use a ceiling fan instead of central AC
Replace HVAC filters every three months
Power off or unplug devices when not in use
Use LED light bulbs
Invest in energy-efficient appliances
Hire a pro to service your HVAC system twice per year
Add insulation to your attic
Frequently Asked Questions
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