"Daniel Larsen" wrote in message
...
Recently went to install a new hot water heater as the old one was
leaking, old one was a small 110v unit but I opted to go to a large 240v
unit to replace it. When I opened the wiring panel there are only a black
and red wire, I was under the impression that 240v required 2 hot wires
and a neutral. Is there something that I am missing or how differently do
I wire this in. I have a 240v, 30amp breaker but don't know how to wire
it with only a single hot and neutral wire.

A 240 volt circuit only has two hot wires. They are both 120 volts above
ground. If you run the third wire (neutral wire) then either of the other 2
wires will be a hot wire and will be 120 volts between that neutral wire and
either of the other two hot wires.
YOu will also have a ground (usually bare wire) that goes to the fram of the
water heater for safety.