Hello Everyone, I have a few questions that I would like some help with. Im planning on upgrading to a 200 Amp service within the next year but it will be a piece by piece upgrade. What I would like to do is replace my load center that is currently in my basement first. I am knowledgeable of electricity and have done a lot of home repairs and so forth but this would be my first panel replacement so my first question is 1. Can I purchase a 200 amp panel with a main breaker and for the time being replace the 200 amp breaker with a 125 amp breaker which is what I currently have?

2. I know that my feed line from the drop will need replaced and I plan on having an electrician replace from the drop to the top end of the meter but can I replace the lower from the meter to the panel with the upgraded 2/0 copper or 4/0 aluminum prior to replacing the meter box?

3. I have an older house built in the late 60’s and most of the wire in the house is the older wire, its wrapped in a paper material but inside the paper the 3 wires are in vinyl. Is there any unforeseen issue when upgrading this to a 200 amp service? I would think not being that the breaker size on each wire will remain the same and the only difference is that I’ll be able to add additional wiring in after the upgrade has been complete but just to make sure I wanted to ask.

4. Does the drop wire have to be replaced from the pole to the house? The reason I ask is that ive been told yes and no but my neighbor just upgraded to 200 amp service about a month ago and they replaced hers, this added a lot of cost and total was over $3500.00 for the total upgrade.

Again Ive done electrical work but not on this scale, I do plan on removing the meter prior to the panel replacement and am just looking to clear some things up. Thanks for the help.