Nowadays with all the new appliances and technical devices we now have in our homes, many older homes may not have sufficient power available to handle the increased demand. Therefore, an electrical panel upgrade or service change is required. This includes not only an upgrade in your electric panel, but an upgrade in your meter socket and wire size between the meter and panel.
A panel change out is usually required to alleviate a problem with the existing panel. Sometimes a breaker(s) might overheat to the point that the buss bar in a panel gets burned. The conductors between the meter and panel may become loose and burn out the main lugs, especially common when aluminum conductors were used.