Disclosed herein are a device and a method for changing a setting value of electric power equipment. The method for changing a setting value of electric power equipment, includes transmitting a data request signal including a predetermined communication address and receiving a response signal corresponding to the data request signal from a slave communication module corresponding to the communication address using the serial communication network, determining whether communication between the master communication module and the slave communication module is established normally on the basis of the data request signal and the response signal, receiving, from the response signal, model information of a slave communication module in which a setting value change event occurs among slave communication modules of which communications are established normally, and discriminating and displaying, among the slave communication modules of which the communications are established normally, a slave communication module.