We stumbled onto an online discussion in which a homeowner claimed his monthly electric bill dropped 30 percent after he installed a new circuit breaker panel. This seemed unlikely, so we contacted master electrician and inspector John Williamson to get his take.
“In theory, simply installing a new electrical panel wouldn’t result in any energy savings because an electrical panel doesn’t normally impose a load on the electrical system,” says John. “The panel itself doesn’t consume power. That said, I suppose an old panel could be in bad condition, with many loose or corroded connections, which may cause a resistance to current flow and create wasted power in the form of heat. But a 30 percent reduction in one’s electrical bill doesn’t seem plausible.”