Hi everyone I have just joined this group. Thank you in advance for your time in reading this. My husband and I are now renovating our basement and would like to make a laundry room/ bathroom to help with the kids growing up and needing more space. But we are continually getting mix info regarding the electrical panel and any water source. When we moved in are hot water tank was close to the elect.panel. But now that we want to put a shower down there were are told that there as to be a distance of three feet from the panel. Is there anyone that knows if this is in fact true and if so, is it and exposted panel or does it change if the panel is coverd in a box. Any info would be great.
Thank you Cic.

There are absolutely NO rules or restrictions with regard to a "water source". There never was and these myths are constantly getting perpetuated.

You must meet working clearances, which are 6.5' in height, 36" in front and 30" wide. The panel DOES NOT need to be centered in the 30" width space.
You can have a slop sink 1" to the side of an electrical panel as long as you have the full 30" total.

You also CANNOT have a panel in a bathroom regardless of clearance.