Katt talks about wiring phases
So I feel like going on about this since I think it's cool.
Residential wiring is what's called split-phase. You have an A phase (default black) and a B phase (default red) that are 120V (RMS) AC sine waves and 180 degrees out of phase with each other. The voltage between the two phases is 240V (useful for things like heaters and large appliances). Neutral (white) is held to zero volts and serves as current return for both phases.
Katt talks about wiring phases
IMPORTANT PROGRAMMING NOTE: if you have a device that only needs 240V, it will often be run on a two-conductor wire that only has black and white wires inside. This means that the white, which is normally neutral, is actually a 120V hot.
This SHOULD be marked with black tape or a marker, but isn't always.
Katt talks about wiring phases
Commercial wiring is different!
There's black, red, and blue phases! Each of them is 120V AC, but there 120 degrees out of phase instead of 180. This means the voltage between any two phases is 208V. You can run three different hot phases all sharing one neutral, and if the loads are balanced then the neutral isn't actually carrying any current. You can also plug three-phase power directly into a three-phase AC motor.
Katt talks about wiring phases
AC power voltage isn't measured zero-to-peak! The peak voltage of a "120V" sine wave is actually 170V.
120V is the "RMS" (root mean square) voltage.
"For alternating electric current, RMS is equal to the value of the direct current that would produce the same average power dissipation in a resistive load."