No problem! Take the time and do it as you get to it. I do this when I get tired of waiting for calls and don't want to get far off from computer. I get paid for being here and when they want it!
So this is just info to consider if an or when you might need to know how the load shedder might work. this is based on being this brand and all that but most work the same if we trace out the three Romex we expect to find here.
One come in from the breaker to bring the AC to this form of "switch" that decides whether to let you run the microwave or the water heater as they can't both use power at once. So they let this gizmo do the switch of those two.
Kind of like a transfer switch only it changes what can use power instead of which power is used cord or generator?
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Easy to spot is that all three Romex have bare ground wires that all go to same place to ground the metal box. Blue marked!
The I marked as yellow the hot power from breaker into shedder. Shedder then decides If microwave is turned on, it passes hot to primary (red) to go out on the primary Romex. Doing that shuts off the power tot he water heater until micro is done!
Power goes to water heater green but only when it calls for heat and microwave is off!
Bottom line is that IF the water heater is not getting 110AC to it, the problem may be that power is leaving the breaker but not getting though this gizmo!
Never worked in this type but if you can get the cover off, there may be loose wires, etc. to tighten. Mostly we think of just hot but the neutral are all really needed, too, so check they are good and tight as well.
Hot comes in on yellow and goes to primary if needed or secondary if primary not needed but secondary does!
Just info to stick in a book if ever needed?