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The main panel in my building is 100 feet from the where the feed wire comes in from the outside meter. Can I install a new 200 amp panel where the feed line comes in and use the existing wire to feed the old panel and change it to a sub panel?

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Yes, you can do that. You will need to remove the nuetral->ground bonding screw from the subpanel. The new panel should have its neutral to ground bonded (unless that is already done at the power meter). You'll need to install a 100 A circuit breaker in the new panel (or higher, if the subpanel and wire are rated for the higher current) to feed the subpanel. You'll also need to make sure that you have a separate neutral and ground wire running from the main to the subpanel.

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A subpanel will need a 4 wire feeder, the existing cable is likely only a 3 wire cable. So while you may be able to convert the panel to a subpanel (depending on the make and model), you'll probably have to change the feeder cable. – Tester101 Mar 4 '13 at 12:05

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