How Much Does it Cost to Install an Electric Meter? [2021]

Your new home or apartment may well require a new electricity supply if you have just moved into a new building. It’s hard to know how much a new electricity supply will cost if you’ve never done it before: What is the cost of installing an electric meter? Our goal is to give you a comprehensive overview of the costs. Let’s start.

How much does it cost to install an electric meter?

The cost will vary from state to state because of the labor cost and equipment cost. In 2021, according to estimates, the average cost to install an electric meter is $1500-$2000.

How much does it cost to install an electric meter
How Much Does it Cost to Install an Electric Meter

The electric service company will provide meters and other equipment and an electrician too. A licensed electrician will do the work for you. In most cases, electricians charge $40 to $120 per hour. It may take 1-2 hours to complete the work. And electrical panel unit price varies with the capacity of amperage you want to use.

Electric meter installation cost summary

In order to save you time, we provide you with a comprehensive breakdown. Below are the estimated costs for four panels if you wish to upgrade while you install an electric meter. Here’s the summary of total minimum cost to maximum cost (including panel upgrade):

AmperageAmperage CostInstallation Cost
100$50-$150$510-$1500
150$100-$200$510-$1750
200$100-$300$700-$2000
400$300-$500$1400-$3500

Electric meter installation costs factors 2021

There are many things that are related to project costs. After reviewing the actual costs we find that there is mainly the major factor related to the cost of installing an electric meter. They are Labor cost, equipment cost or material cost, and the cost of permits.

Labor cost is a big factor because you can’t do it yourself and you need to hire a licensed electrician from the power company. You have to pay an electrician an hourly rate.

You have bought the best materials at a lower price. It is up to you to decide what will satisfy your needs. Like which types of meter you buy or the best suitable electric panel for your house. 

You need the authority’s permission. To get your permit, contact your utility company. There is a fee for obtaining a permit.

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How much does it cost to install a separate electric meter?

Well, it depends. If you separately installed an electric meter, it will cost between $1250 to $1500.

After knowing the cost factor you can easily estimate the cost to install an electric meter, whether you choose to separate the meter or not? Let’s look at the total breakdown of each item. First, you need to take permission from a power supply company. Electric meter permit costs differ from place to place. 

  • On average you have to pay $80-95 to get the permit.
  • If you want to hire a licensed technician he will charge $40-$120 per hour.
  • If you want to buy then you have to buy a meter which will cost you $150-$350.

For the most part, the electric company provides all services, including all labor and equipment.

To upgrade the panel, you must purchase a new electrical panel. Electric panels are available in many categories with different amperages.

Electrical panel unit cost summary

We have included four types of amperage costs in this table. These are 100,150,200, and 400 Amperages.

AmperageCost
100$50-$150
150$100-$200
200$100-$300
400$300-$500

Amperage 100 electrical panel is suitable for the medium-size house like 2000-3000 square feet.

If you need to upgrade the panel with a meter then you have to bear the extra cost. Because panel upgrade needs 4-8 hours to complete. For this electrician cost increase. The estimated cost for four panels is listed below if you wish to upgrade while you install an electric meter.

  • If you have 70 units, you can upgrade the panel to 100 amps. This modification costs between $510 and $1500.  
  • Similarly, you have to pay $510-$1750 if you want to upgrade your electric panel into 150-amp.
  • If you need 200-amp then you have to bear $700-$2000 for the up-gradation.
  • If you have 310 units and you need 400 amps. Panels with meters are available for upgrade. It will cost you between $1400 and $3500

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How much does it cost to install a second electric meter?

Most people think that installing a second electric meter may be less expensive. But that’s not true. If you need to install the second then you have upgraded the panel also you have to rewire your system. Like the first one, you need to follow all the steps again.

The average cost for installing a second electric meter is anywhere near $1800-$3000.

There is no way you can cut the cost in second-time installation. Usually, the additional meter-reading fee varies from $1.90 to $3.50 monthly per unit. Submetering might not be cost-effective in some cases.

What are the steps to install a new electric meter?

The steps are simple. But You can’t perform them. You need to hire a professional and he will do it on your behalf. The following steps are intended to provide you with a better understanding of “how to install an electric meter“.

  1. The first step is to disconnect all your electrical appliances.
  2. Afterward, contact the electric service provider.
  3. Turn off the high-voltage supply and ground wires.
  4. You can remove the old meter by cutting the security tag.
  5. Take off the insulation.
  6. In the final step connect the electrical wires to the new meter.

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Now I’m answering the most common question; people also asked (Electric Meter Installation): FAQ

Can I install my own electric meter?

Doing so is unsafe and illegal. The electric company will give you an instruction. You have to follow those instructions carefully. You also have to follow the law and hire a licensed technician for this work. If you don’t follow the instructions, they can cut the line and file a case.

And it also matters of your safety. If you want to install a meter on your own then you have to touch all the system wiring. If something goes wrong then an accident can easily happen. So don’t try your own.

How long does it take to install an electric meter?

The installation of each smart meter takes about 1-2 hours. If your meter set up is old then it takes much more time than we expect. This depends mainly on how old your existing meters are and how they are set up. For one meter, please allow a bit longer than an hour – as well as a bit longer than two hours for both meters – just in case it takes longer.

What is an advanced electricity meter?

Smart meters, also known as Advanced Metering Infrastructure (AMI). This meter allows the user to measure the electricity consumption in half-hour. Users of advanced meters can access their electricity usage history via SP Utilities’ mobile app.

Do I have to pay for a new electricity meter?

If you shift an old meter to a smart meter you don’t need to pay in advance. Energy bills will cover smart meters, just as they do for old-fashioned meters. Smart is better than the old meter. Electricity bills are very accurate in the new system. To reduce the energy bill in smart meters you have to control your usage.

Where should I put my electric meter?

The power line enters your building at the point where the switchgear is installed. A meter displays the total power consumed since it was set, just as the mileage display in your car shows you the total distance you have driven.

How much does a meter box cost?

On average, replacing an electric meter box costs $200 to $500. Prices depend on how many circuits it serves, which can range from 8 to 30. It is possible to bury some underground because they are more resilient than others.

Can I put two electric meters in my house?

A single house can have two energy meters. On both meters, you can distribute the load equally. Generally, you will receive a lower Electricity bill if you are in the lower consumption slab.

How much does it cost to install a power meter?

Installation or replacement of an electric meter box is $250 to $700. You have to pay $40-$120 for the labor cost per hour and they can take 2-4 hours. Homeowners often replace a panel and meter together. An expert can do both tasks for you at a lower price. When you hire a professional don’t forget to break the cost.

Hope this cost-effective guide of installing an electric meter will help you to reduce cost. Keep in touch with the resources blog about sub-metering, water metering, house bills, and many more informational articles.

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