Most homeowners spend between $800 and $2,500, depending on the size of the current panel, local labour rates, and whether any rewiring is required. A switchboard upgrade keeps your electrical system compliant with modern safety standards. It may be time to upgrade your switchboard. Depending on your requirements, it can be costly, so it's best to prepare yourself beforehand. Typically, prices for a switchboard upgrade can range from $1200 for a basic. If your house or business premises is due for a switchboard upgrade, one of your likely concerns would be the budget you'll need to cover this expense.