208  vs.  240  Volt -  What's  The Difference?

240-volt is single-phase power, while 208-volt is 3-phase power. Phase refers to the method of delivery of the power load

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Single-Phase Applications The AC voltage peaks occur at 90 degrees and 270 degrees

Three-Phase Applications More efficiency.  Motors tend to run cooler and last longer.

So, which is Better?

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Single-phase is a better option: For residential applications where you are using standard appliances and tools.

Three-phase should be an option when: Heavier equipment and higher horsepower motors are required