Originally Posted by
nukeman
You have 240 V coming into the house with a neutral. The neutral splits the voltage in two. If you measured the voltage between the two hots feeding the house, you see 240v. If you measure between each hot and the neutral, you get 120v. Say your panel is all 120v circuits, half of the house is on one side of the incoming line and the other half of the house is on another.
Maybe it is easier to think about in terms of batteries. Say you have two 6v batteries. Connect the + of one to the negative of the other. If you now measure the voltage between the + of one battery and the - of the other, the voltage is 12v, right? This is how you can think about the supply to the house. Now if you measure between the + and - of either battery, each is still 6v (this is like your 120v circuits). So 240v = 2 batteries, 120v = 1 battery. Some 120v circuits are on battery #1, and the rest are on battery #2.
Now with the house voltage, the + and - flip back and forth. So, when circuits on battery #1 are + compared to neutral, the circuits on battery #2 are - compared to neutral.