I have recently installed a new electric hot water heater. I have connected all the wires properly, I have connected the piping in the correct manner, and filled the tank. I was about to flip my breaker to turn the water heater on, and noticed a little moister around the panel that the wires come out of the water heater. I removed the panel and it was full of water. I dried out the panel recess, I checked my pipes, and they were leak free, and then noticed the water was coming from the hole where the wires came from! Is my hot water heater a faulty buy? Is it broken? Did I do something wrong, and if not, if I flip my breaker, (which is of course a 240), will I kill myself? I haven't had any hot water for 4 days now and could really use some help!

Something must may have happened in shipping or at the factory. If you are referring to the side panels where the heating element is then I would turn off heater and tighten the 4 bolts diagonally that the element goes to. The seal there may not be 100% tight when they put the heating elements in from factory or it's a bad seal
Get back and let me know

Signed 21 Boat

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This is the strangest thing I have ever heard.

The first thing I would have done is look in the wiring compartment at the top of the water heater. Did you do that and was it dry?

I think you have a problem with the unit or a plumbing problem.

FOUR days? I would have called in a plumber by now. I like hot showers.