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This is all important information to have before undertaking a big electrical project, and if you're thinking about buying a home, you may want to factor it into the contract negotiations.

Overall, the benefits vastly outweigh knob and tube replacement cost, making it a smart decision for homeowners.

In a new home, a kitchen will typically have one circuit for the dishwasher, one for the disposer, two for the countertop outlets, one for the lights, and another for the microwave and fridge.

This is a minimal installation, and many electricians will also put the fridge on its own circuit, and have another 240 volt circuit for an electric range.

If a fuse is rated for 15 amps and more than 15 amps passes through the fuse, a thin strip of carefully calibrated metal will vaporize, which opens the circuit (in other words, kills the power).