Service Cable Vs. Feeder Cable

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tbcox2

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I am a general contractor and have been using this forum for a while now when I had electrical questions over my head or felt like my electrician was feeding me a line. I am building a house for a client that wants a 400A service. (320 meterbase with 2 200A CB and 2 200 amp panels downstream) To avoid having overhead lines on the property the homeowner wants the service to be run underground. The local utility is a co-op and they will only run 100' max service line underground due to "maintenance issues". (it's a rural area and all service is overhead.) Could I set the meter at the property line with the 2 200 A "disconnects" and then feed two panels (House and shop) approximately 500-600 feet away with regular 4/0 CU SER cable? Would this distance be a voltage drop issue?
 
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