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Electrical panel requires upgrading

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We bought our home several months ago and hired a home inspector to check it out. He reported a list of routine defects but said nothing about the adequacy of the electric service. Last week we called an electrician to do some minor electrical work, and he said our electrical panel does not meet code and must be upgraded. According to the electrician, our home inspector should have mentioned this in his report. The cost for a new panel is over $1200. Do we have any recourse in this situation? - Ray Dear Ray, Older homes often have electrical systems and service panels of lesser capacity than would be required for newer homes. In houses built since the mid-to late-1950s, service capacities typically range from 100 to 200 amps, depending upon the overall electrical demand of the system. Older homes had systems designed to accommodate lesser electrical demands because there were far fewer electrical fixtures and appliances in use in those times. This, however, does not mean that an electr...