Upgrading your home’s electrical panel is an essential step in modernizing your home and ensuring it can handle today’s electrical demands. An outdated or undersized panel can lead to various issues, from frequent breaker trips to potential safety hazards. Upgrading your electrical panel not only addresses these problems but also prepares your home for energy-efficient upgrades like heat pumps, enhancing your home’s efficiency and value. The professional electricians at Universe can help!

Why You Should Consider an Electrical Panel Upgrade

  1. Handling Increased Electrical Loads: With the growing number of electronic devices and appliances in modern homes, the demand for electricality has surged. Older panels may struggle to support this increased load, leading to frequent outages and potential hazards.
  2. Enhanced Safety: Outdated panels, particularly those with fuses instead of circuit breakers, pose significant fire risks. Modern panels are designed with enhanced safety features to minimize the risk of electrical fires and other hazards.
  3. Facilitating Energy Efficiency: Upgrading your electrical panel is crucial for supporting new, energy-efficient appliances and systems. This upgrade is essential for integrating technologies such as heat pumps, solar panels, and electrical vehicle chargers.
  4. Increasing Home Value: An upgraded electrical system can boost your home’s market value. Prospective buyers often seek homes that are equipped to handle modern electrical demands.

Ready to have your electrical panel assessed? Click here to schedule an appointment!

Who Should Perform an Electrical Panel Upgrade?

An electrical panel upgrade should always be conducted by a licensed electrician, like the ones at Universe. Hiring a professional ensures that the installation meets all local codes and safety standards. A licensed electrician from Universe will assess your current electrical system, recommend an appropriate panel, and safely complete the installation.

Click here to learn more about electrical panel upgrades with Universe

Preparing Your Home for Energy-Efficient Upgrades

Upgrading your electrical panel is a critical step in preparing your home for energy-efficient upgrades. Modern appliances and systems, such as heat pumps, require a reliable and robust electrical system. An upgraded panel ensures your home can support these technologies, helping you reduce energy consumption and lower your carbon footprint.

Federal Tax Credits for Electrical Panel Upgrades

To incentivize homeowners to upgrade their electrical systems, the federal government offers tax credits. You can claim 30% of the project costs, up to $600, as a federal tax credit. This financial incentive makes upgrading your electrical panel an even more attractive option.

How to Claim Your Tax Credit

  1. Keep Documentation: Save all receipts and documentation related to your electrical panel upgrade.
  2. Fill Out IRS Form 5695: Use this form to claim the Residential Energy Credits on your federal tax return.
  3. Seek Professional Advice: Consult a tax professional if you need assistance or have questions to ensure you receive the full tax credit.

Click here to read about the differences between rebates and incentives

Conclusion

Upgrading your home’s electrical panel is a smart investment that enhances safety, supports modern electrical demands, and prepares your home for energy-efficient upgrades. With the added benefit of federal tax credits, upgrading your panel is both a practical and financially sound decision. Contact the licensed electricians at Universe to assess your home’s electrical needs and begin the upgrade process today.