A service upgrade is an equipment upgrade so you, the customer, can power up or use more electrical appliance at the same time.  Sometimes a Service Upgrade is done for the sole purpose of replacing an old fuse box or an older power panel or even just to condense multiple smaller panels into one main panel.  Regardless of the reason, a service upgrade usually entails getting a permit from the city and coordinating with the local electric utility company.

The electrician will install a new meter box and riser pipe on the outside of the home or business (usually in the same location); inside the building, they will install and consolidate all the circuits into one main panel (also usually in the original location).  All the circuits will be re-installed in the new panel and a new breaker, that is properly rated for the circuit, will be installed.  The panel will be bonded and a grounding electrode system will be installed, to make sure the system potential always has an earth reference.  The final stage is to have the work inspected by the city.  Once the inspection has passed the city inspector will call the utility company and give them the OK to permanently reconnect their lines.