Just purchased a raised ranch not too long ago and have been in the process of redoing my basement. The walls were old wood paneling which I have sanded down and painted. One of the panels in the basement is cut out to allow access the electrical service. There is a major draft in this part of the room. Does anyone have any ideas on how to insulate or protect this area. The first thing I will be doing is to make sure that the main service line is properly sealed where it meets the house but what should I do inside the cutout wood paneling?