You have a couple of choices for this size service. The most common (and cheapest) solution is to use 4/0 aluminum wire. If the cable will just be attached to the house (no riser pipe needed to extend above the roofline) then you can use 4/0 SEU style cable. If you need to install a riser pipe, then you cannot use SEU jacketed cable in the pipe; you have to install individual conductors. Either USE or XHHW style is fine. In this instance, you can size down your neutral cable, which means that you would use two runs of 4/0 and one piece of 2/0 in your riser pipe. You can also use a 4/0 URD style assembly, which are these three cables already twisted together.

Another option is to use copper conductors. This will be quite a bit more expensive and usually not necessary unless you’re doing commercial work. Due to the higher melting point and greater conductivity of copper, you can use a slightly smaller size: 3/0 instead of 4/0.

We should also mention that just because it’s more expensive, copper is not necessarily a better choice. Aluminum wiring is completely safe and in compliance with the Code when installed properly as service entrance conductors. In fact, the vast majority of new home construction in the US today almost always uses aluminum service entrance cable.