Is panel replacement in order, I think so?

[NoahsArc]

I'm not so interested in the corrosion at that level,
but why it corroded to that level. Cleaning up some terminals can do wonders.

But why ? Humidity, leaks, insects, rodents, plumbing, toxic drywall sulfur, gases from the ground?

No 30-year-old panel should look like that.

I've seen a lot of similar panels.
Could be they didn't run a dehumidifier in the basement (it would get very muggy there in the Midwest).
Locally, it's all EMT, so pipe condensation is an issue in panels, since they're all below ground level and all condensation leaks down into them. But high ambient humidity would also cause that.

 

[AC\DC]

If there’s possibly a service pipe leading outside, they might not duck sealed it and condensations get in from outside

 

[J2H]

I've seen a lot of similar panels.
Could be they didn't run a dehumidifier in the basement (it would get very muggy there in the Midwest).
Locally, it's all EMT, so pipe condensation is an issue in panels, since they're all below ground level and all condensation leaks down into them. But high ambient humidity would also cause that.

That’s good to know, that this thing is pretty typical for the area, and you have not seen it cause any disasters.

 

[J2H]

If there’s possibly a service pipe leading outside, they might not duck sealed it and condensations get in from outside

Yes, are correct it was not duct sealed, which I did. But it’s probably too late.

 

[Malywr]

If there’s possibly a service pipe leading outside, they might not duck sealed it and condensations get in from outside

I agree
Most likely leak in service entrance conduit or deteriorated insulation on service entrance conductors
Brings rain water to panell

 

[brycenesbitt]

So for the OP:
concern yourself first with any flaw that's accelerating the rust, and note that moisture + time reduces lifetime of the equipment.

 

[Jraef]

There is no way to clean dirty water contamination from inside of a breaker, so those need to be replaced if submerged. Panel bussing can be cleaned, but it might not be worth it. Steel enclosures can be treated like any other steel object.

Te: underwater recovery. I found this after Katrina, pretty useful if you have to justify your actions.

https://www.nema.org/docs/default-source/products-document-library/guidelines-handling-water-damaged-elect-equip.pdf

 

[J2H]

Te: underwater recovery. I found this after Katrina, pretty useful if you have to justify your actions.

https://www.nema.org/docs/default-source/products-document-library/guidelines-handling-water-damaged-elect-equip.pdf

Thank you, that looks like an excellent resource.