Other people have done that to run a 5 HP CNC machining center setup to run unattended. I don't know the costs or how much it changed the basic charges on their monthly electric bills. There are many grain dryers that run 5 to 10 HP motors on single phase power. How many hours per week will you use three phase power?
Will you be using three phase power in the house? If you will use it in an outbuilding you may not need to run three phase power through the house. Are there other reasons the electrical panel in the house need replaced anyway? Either way, I would get some quotes and opinions from your local electricians.