Joe:
Here we go again with the "allowable" length of service entrance conductors (unprotected) within a structure.

OK, the HVAC ductwork is "in the corner" over what looks like a new backboard, but...
IMHO, if you have to run that far inside, it has to be encased in 2" concrete on all sides. And, no, fire rated sheetrock, and cinder blocks do not count!

I have to venture a guess, based on the troff, that this panel was installed under the duct, or was about to be installed under the duct!

John


John