Jim, if you used a straight forward two in two out 480 (line to line) to 240 volt single phase two wire transformer NO IT WOULD NOT HAVE 120 AVAILABLE i.e. its NOT two legs of 120 like your typical home service. In order to arrive at two legs of 120 i.e. a 120/240 volt single phase THREE wire service, the transformer you use would have to have TO BE CENTER TAPPED. If it were 480 volt single phase in and 120/240 volt single phase three wire out, you would take the center tap, connect it to a made or other grounding electrode (it becomes a "seperately derived service" like when you place a dry transformer in a building) and then feed a main breaker equipped service entrance type panelboard where the common Neutral and Ground Busses would be bonded together. I guess all you need is to find a dry transformer of the appropriate KVA you require thats 480 VAC single phase in with a 120/240 VAC (center tapped) single phase three wire output,,,,, ,,,tie the center tap Neutral to a grounding electrode (i.e. ground it),,,,, ,,,,,feed a service entrance panelboard with those three wires (L1 L2 Neutral),,,,, ,Bond the Neutral and Ground buss bars inside the panel and bond the panels metallic frame to the ground buss. John T Again a lil rusty n long retired EE
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