Sounds like you might need a new panel.
Electricians routinely upgrade/replace panels and should be able to give you a ball park estimate. Get the size of the main breaker (I am guessing it will be 60 or 100 amp)and the manufacturer of your existing panel. Tell them the size of compressor you are considering.
Or you can make do with a 120V compressor and rent a big one when you need to do sand blasting.
