OK electrical service cables....my favorite subject...shocking!!
There is nothing wrong with a 150 amp panel...unless it has a 100 amp rated breaker.
Every panel comes with a rating on that panel for main breaker size.
American wire gauge sizes; Ampacity; 100 amp= CO wire 4AWG - AL wire 2awg
150 amp=CO 1AWG -AL 2/0AWG 200 amp= CO 2/0AWG -AL 4/0AWG
400 amp= CO 400kcmil - AL 600kcmil
What this means to the homeowner as stated is that typically the AL is twice the size as the copper.
Minimum size for a single family home is 100 amp since 1959.
The size of the service has nothing to do with the number of breakers.If you use central air it is not on the same time as the furnace. To determine the sized panel you need is going into load calculations and has to be done by a licenced Electrician.
Or get two opinions...the are free...
Aluminum wiring is fine for an entrance or service cable, the problem used to be with branch wiring getting loose and starting shorts or fires. Alot has been done to come up with new connections if you have aluminum branch wiring. Check your local electrical supply house for more info or a good electrician, They usually have a good idea who is the top dog.
Dimming the lights.........