Upgrade 200A to 400A service

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Retired_Tom

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Location
Texas
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Retired instrument engineer
We are installing a shop at our home property. The home now has a 200 Amp breaker panel in the garage and is fed underground. The home is 4700 sq ft. The new shop will be 2500 sq ft. We will have a 150A panel in our new shop. Trying to determine the best, least expensive way to power the shop.
Was thinking about upgrading to a 400 amp meter at the house, then suppling 200A back to the existing house panel, then take off with another feed from the meter to a 150A breaker then to the shop.
This is a utility co. question, but could they just run a new underground parallel feed to the same meter area, and install a 400A meter base, reusing the existing feeder wiring? Seems this would save $.
The alternative is installing a new 150A meter feed to the shop, but I have heard this may not be advisable due to local codes.

More questions later, as we are discussing future generator tie-ins, with minimal rework and auto and manual transfer switches.
 
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