120/240V Neutral sizing

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cnodad

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In doing calculations according to 220, loads are divided by 240 to size phase wires. That kinda makes sense as a sort of ballpark... you can guess that you might come close to balancing the load in the panel. Dividing the neutral load (after reductions) by 240 has me scratching my head, as it doesn't seem like the voltage would ever be 240 on the neutral. Pondering this has led me to believe that the calculation is undersizing the neutrals. Can somebody point me to a reference that would explain this thoroughly and in detail (possibly a post I missed in my search of this forum?). Thanks in advance.
 
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