BuiltWithNOF
Terminology

Ungrounded Conductor - also known as the hot wire, usually black, but can be virtually any color, except it cannot be white, grey or green.

Grounded Conductor - also known as the neutral, it can be any color you want, as long as it is white or grey. That's a little humor (maybe literally), and means it has to be white or grey. I have been told that there are code changes in the works, I will try to keep this updated.

Grounding Conductor - also known as the ground, it too can be any color you want, as long as it is green or bare. Again, humor, your ground wire has to be green or bare.

 

A typical electrical panel. This one would be called a main lug panel as it does not have a main breaker in it. I took the liberty of adding color to the pic so you can see the two ungrounded 120 volt wires, the grounded neutral (white) on it's neutral bar, and the grounding (green) wire on the ground bar. The circuit breakers would plug into those black and red bars. The black and red wires each are 120 volts, when measured from each to the neutral or ground. When you measure between them, it is 240 volts.

 

Most places I have wired call for the main disconnect to be located on the meter.

 

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