When to Use an Electrical Estimate vs. a Quote
Use an estimate when the full scope of electrical work isn't yet clear. A homeowner asking "how much to add outlets to my finished basement?" requires an estimate because you don't know what's behind the walls, how far the panel is from the work area, or whether the existing panel has capacity. Once you've inspected the site and defined the scope, you convert the estimate to a firm quote. Your electrical estimate template should clearly communicate that costs are approximate until a detailed assessment is done.
Components of a Thorough Electrical Estimate
- Preliminary scope description - what the customer is requesting and what's known so far
- Cost range for labor - low estimate assumes straightforward conditions; high estimate accounts for challenges like limited panel capacity or long wire runs
- Materials range - basic materials list with approximate costs; note that specific brands and quantities will be determined after site inspection
- Panel capacity assessment - note whether the existing panel likely has space for new circuits or may need upgrading
- Permit estimate - typical permit costs in your jurisdiction for this type of work
- Contingency allowance - 10-15% for residential work with reasonable access; 20%+ for older homes or commercial remodels
- What's needed for a firm quote - describe the site visit or inspection required to firm up pricing
Estimating Electrical Work Accurately
Base your estimates on cost-per-point calculations refined by your experience. A "point" in electrical estimating is typically one device (outlet, switch, or fixture). Residential rough-in averages $150-$300 per point depending on your market, wire run complexity, and code requirements. A basement with 8 outlets, 4 switches, and 6 recessed lights is roughly 18 points, giving you a framework for the estimate.
Always note what could change the price. Common variables include: panel at capacity requiring upgrade ($1,500-$3,000 additional), running wire through finished walls vs. open framing (double the labor), and discovering knob-and-tube or aluminum wiring that needs replacement. Listing these variables upfront prevents surprises and demonstrates your thorough approach.
For commercial work, estimate by circuit rather than by point, since commercial circuits involve longer runs, larger wire gauges, and more conduit work. Include a separate line for fire alarm integration, data cabling rough-in, and generator or UPS connections if applicable.
Generate Electrical Estimates with Ease
Use BillThemToday's free estimate generator to create professional electrical estimates with cost ranges, contingency percentages, and clear assumptions. Convert estimates to firm quotes and then to invoices as the project progresses. Our electrical estimate generator keeps your pricing organized from the first customer call to the final payment.