An improved installation system for electrical hardware, such as power outlets, electrical switches, light fittings, ceiling fans and the like, whereby the cutting of their installation access holes in drywall panels is accomplished much faster than prior art methods and with a high degree of accuracy by the use of the hole cutting system, comprising the magnetic block assembly, corresponding magnetic template assembly and the hole cutter. In conjunction with the aforementioned; the electrical hardware's associated electrical boxes are wired directly to their electrical supply and the hardware is in turn, electrically connected to them by their respective sets of electrical terminals which make simultaneous contact with each other upon their installation. Additionally, the latching pawl mechanism and alignment device supports the weight of heavy light fittings and ceiling fans and aligns their electrical connections while they're being fixed into their installed position. These features taken together make this improved installation system substantially superior to all prior art.