A 200 AMP indoor load center or service panel ranges from $118.00 to $400.00 depending on how many circuit breakers can fit in the load center or service panel.
The larger size service panel the more it will cost.
Also you need to change out your incoming service entrance wire as well as your meter box and the electric utility company will have to run a new 200 amp service wire to your meter box.
So you'll need to change out your electric meter box, service entrance wire and your electric breaker box which is also known as an electrical load center.
Then if you have someone do the install it can cost $3,000.00 or more to upgrade your electrical service to 200 amp.
Not every house will need 200 amps service but adding 200 amp service to your home can also increase the resale value of your home.
For most people 200 amps is a lot of electricity.
Most homes use way less than 200 amps of electricity per day and not everything electrical is on all the time.
If you used 200 amps of electricity per day then your electric bill would probably be at least $500.00 or more per month.
If you have an electric heating system in your house then you could use a lot of electricity but most houses don't need 200 amps of electricity.
I have 125 AMP electrical service to my house and never have I tripped the 100 amp breaker that is inside of it.
I see no need to upgrade right now to 200 amps for my electrical service but some houses may need to.
Most new homes being built now have 200 amp electrical service installed even though the new house will never use that much.
Even with central air conditioning running you're likely never gonna even use the 200 amps of electricity but it can be possible.