Okay, let's break down this situation and address the potential problems. Based on your description and the photos, it's highly likely that the setup is incorrect and potentially dangerous.

Here's a step-by-step analysis

Understanding the 3-Wire Service
2 Hots (240V)

You have two "hot" wires, each carrying approximately 120V. These provide 240V when used together for high-power appliances (like stoves, dryers, and AC units) and 120V when used individually with the neutral for standard outlets and lights.

Bare Ground Wire

The bare copper wire is the grounding conductor. It's designed to provide a path back to the source in the event of a fault (e.g., a short circuit). It should be properly connected throughout the system.

The Problem

The core problem is this: in a system with a 3-wire service, the neutral and ground are derived from the bare ground wire at the first point of disconnect. If the ground is not connected at the disconnect, then there is no neutral reference (other than potential ground loops). This creates a potential hazard because there is no return path for 120V current if a short occurs.

Why it's Potentially Dangerous1. Missing Neutral Path

Without a properly established neutral and ground, the grounding system may become energized during a fault. This means that metal appliances or fixtures connected to the grounding system could become live, posing a shock hazard.2.

Improper Bonding

The load center is bonded, meaning the neutral bar is connected to the metal enclosure. With no dedicated neutral, the electrical system would try to use the ground wire as a neutral, which it's not designed to do, and could cause over heating and even fires.3.

Misleading Ground

Someone could assume the grounding system is safe, which it would not be under fault conditions.

Correcting the Situation (This Requires a Qualified Electrician!)1. Verify the Service

First, a qualified electrician needs to verify the exact configuration of your service entrance. Is it truly a 3-wire system (2 hots and a single ground/neutral)?2.

Establish a Neutral

If it is indeed a 3-wire system, the electrician will need to confirm that the ground wire coming from the meter is sized appropriately for the service.3.

Bonding at the First Point of Disconnect

The grounding conductor needs to be properly connected to the metal enclosure of the disconnect and to the neutral bar.4.

Separation of Neutral and Ground in Subpanels

In subsequent subpanels (like the load center you mentioned), the neutral and ground bars must be kept separate. The neutral bar should not be bonded to the enclosure in subpanels fed from the main panel. The ground bar must be bonded to the enclosure.

Important Notes NEC (National Electrical Code) Requirements

The NEC has specific requirements for grounding and bonding. Your electrician should be familiar with these requirements and ensure the installation meets them.

Old vs. New

Electrical codes have changed over time. Older installations may have been compliant at the time they were installed but may not meet current code requirements. Upgrading to meet current code is highly recommended for safety.*

DIY is Not Recommended

Electrical work can be dangerous and should only be performed by a qualified electrician. Incorrect wiring can lead to fires, shocks, and even death.

In Summary

The setup you describe is likely incorrect and potentially dangerous. You must hire a qualified electrician to inspect the system and make the necessary corrections to ensure it is safe and compliant with current electrical codes. Do not attempt to fix this yourself unless you are a qualified electrician. Flag for review