Your electrical panel keeps your home and all of its electronics running throughout the day. You’ll want an inspection whenever you notice an issue with your electrical system. Even if your electrical panel is running fine, if it’s old or outdated, it may be costing you more money on your energy bills. Here are some ways installing a new electrical panel can save you money.
1. Allows for Newer Appliances
Older or outdated electrical panels may struggle to meet your current energy needs. Newer, larger appliances, such as air conditioners, refrigerators and dryers, can require more electricity than older models. If you notice power issues after installing a new electronic, it may be time for an updated electrical panel.
2. Lowers Your Homeowners Insurance
Replacing your electrical panel can save you money on your homeowners insurance. Homeowners insurance increases your premium for outdated electrical parts such as wiring or panels. Some insurance companies offer discounts for current technology, which add up over time.
3. Increases Your Electrical Efficiency
The technology of electrical panels has come a long way in efficiency. The energy efficiency of your house improves the newer your electrical panel is. An electrical panel can struggle to bring energy throughout your home as it ages.
4. Increases Your Home’s Value
If you’re selling your house, you’ll want to improve your property’s value in any way you can. People may not want to purchase a home that needs upgrades to the electrical system. Upgrading your wiring and electrical panel to handle current energy usage could attract potential buyers.
5. Lowers Your Monthly Bills
Older models of electric panels aren’t as efficient when carrying energy through your house. An older model will use more electricity than a new panel would with the same appliances. An electrical panel replacement could save you 10% to 30% a month depending on energy consumption.
6. Increases Your Home’s Safety
You use electricity every day, which is why you can forget just how dangerous it is. The creators of older models of electrical panels didn’t have today’s energy loads in mind. New electrical panels use circuit breakers, surge protection, and arc fault protection to lower the chances of an electrical overload.
Your electrical panel is the heart of your home and keeps everything running smoothly. Replacing your electrical panel will increase the safety of your household and save you money over time. If you notice an increase in costs or electrical issues in Camarillo, CA, call us at Economy about an electrical panel replacement today.
