Why You Might Need to Upgrade Your Home’s Electric Panel

Upgrading your home’s electric panel might not be the first thing that comes to mind when thinking about home improvements, but it is a crucial step in making your home more energy efficient and ready for modern electrical demands. An outdated or undersized electric panel can cause a host of problems, from frequent breaker trips to being unable to support new energy-efficient appliances and systems like heat pumps. Keep reading to learn more about your electric panel, and how Haller’s expert electricians are here to help!

Why Upgrade Your Electric Panel?

1. Increased Electrical Demand: As we add more devices and appliances to our homes, the demand for electricity increases. An older panel may not have the capacity to handle this increased load, leading to safety issues and frequent outages.
2. Safety Concerns: Older panels, especially those with fuses instead of circuit breakers, can be fire hazards. Upgrading to a modern panel reduces the risk of electrical fires and improves overall safety.
3. Energy Efficiency: Modern electric panels are designed to handle new, energy-efficient appliances. By upgrading, you prepare your home for a future that includes smart home technologies and renewable energy sources.
4. Home Value: Upgrading your electrical system can increase the value of your home. Potential buyers are often looking for homes that are already equipped to handle modern electrical loads.

Contact Haller today to schedule an assessment with our licensed electricians!

Who Can Perform an Electric Panel Upgrade?

Electric panel upgrades should always be performed by a licensed electrician, like the ones at Haller. This ensures that the work meets all local codes and safety standards. A professional electrician can assess your current system, recommend the right size and type of panel for your needs, and safely complete the installation.

Preparing Your Home for Energy Efficient Upgrades

One of the key benefits of upgrading your electric panel is that it prepares your home for energy-efficient upgrades. Heat pumps, solar panels, electric vehicle chargers, and other energy-efficient appliances require a robust electrical system. An upgraded panel ensures that your home can support these technologies, allowing you to reduce your energy consumption and carbon footprint.

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Federal Tax Credits for Electric Panel Upgrades

To encourage homeowners to improve their electrical systems, the federal government offers tax credits for electric panel upgrades. You can claim 30% of the project costs, up to $600, as a federal tax credit. This makes upgrading your panel not only a wise choice for safety and efficiency but also a financially sound decision.

How to Claim Your Tax Credit

1. Save Your Receipts: Keep all receipts and documentation related to the electric panel upgrade.
2. Complete IRS Form 5695: Use this form to claim the Residential Energy Credits on your federal tax return.
3. Consult a Tax Professional: If you have any questions or need assistance, consult a tax professional to ensure you receive the full benefit of the tax credit.

Conclusion

Upgrading your home’s electric panel is a crucial step in making your home safer, more efficient, and ready for the future. By investing in a modern electric panel, you prepare your home for energy-efficient technologies and can take advantage of federal tax credits to offset the cost. Contact Haller today and our licensed electricians will assess your home’s electrical needs and take the first step toward a more efficient and secure home.