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There are many signs it is time to replace an electrical panel, starting with flickering lights. Other tell-tale signals include overheating appliances, light fixtures that cause an electric shock, hissing or crackling from the breaker box, burned or blackened spots near the breaker box, and breakers that trip whenever activating power-hungry appliances like microwaves.

How far you can run underground electric depends on the wire gauge (generally AWG) and the circuit voltage. Too much voltage drop in an electrical circuit can negatively affect performance, so the smaller the voltage drop, the better. Ideally, it shouldn't exceed 3%. The smaller the wire and the longer the run, the more significant the voltage drop. 

For example, with a 120-volt circuit, you can run 60 feet of 12 AWG cable without losing more than 3% voltage. With a 240-volt circuit, you can run 120 feet of 12 AWG wire while maintaining a voltage drop of 3% or less.

In most cases, line wires are located at the bottom of a panel or device, while load wires are located at the top. Line wires are generally black, while load wires are typically red or black. To tell for sure, you can use a multimeter or volt pen to test the wire. A live or line wire will always carry a charge, while a load wire will only carry a charge when it’s in use.

Overall, heating your home with an oil furnace tends to be less expensive than heating your home with an electric heating system. Oil heating systems stay warm for longer periods of time without drawing a constant electrical current to maintain a temperature. Plus, heating oil systems typically have a longer lifespan and lower price tag than their electrical counterparts, resulting in short- and long-term savings.