Is there any reason why I can't/shouldn't install a tankless electric water heater directly under my electrical panel. We are in an old house and we are finishing our utility room into a laundry room and this would be the best location for current plumbing, electrical, and aesthetics. Is there anything prohibiting it in electrical codes or in some piece of common sense I am lacking. All of our electrical connections go through the attic (i.e. no connections beneath the panel.) Thanks for your input.