That's your main breaker panel, right? So it looks like you only have a 125 amp service - ir. the maximum load you can draw is 125 amps (at 240V) from the panel. Do you have any air conditioners? Pool pumps?
Here's the deal. An electrician has a formula for doing load calculations to see how loaded your panel really is based on what loads you are using. All those 15 and 20 amp circuits are usually lumped into a general estimate load pool that is based on the square footage of your house. They then start adding up the loads from the big consumers, which would be your range/stove (electric?), dryer and any other loads that use two legs (for example that dryer).
But frankly, it doesn't look good for an HPWC. Lets say the dryer uses 24 amps, a stove/oven when on might use 30 amps - well right there we have 30+24+80 (for the HPWC) = 134 amps which will easily exceed the 125 main panel rating.
So you have two choices. Don't install the HPWC, but Milotron is right, even adding a 40 amp 240V circuit will be pushing it depending on what else you have - a quickie load calc would tell you what you can do there.
Otherwise, you can upgrade your service from the power company from 125 amps to 200 amps. There are two parts to that. Hopefully your panel itself is a 200A panel. If it only rated at 125 amps, then that would require a new panel, figure a couple of thousand dollars minimum there for that. Then the power company needs to upgrade the service which is very doable, but the cost there completely depends on their tarrifs, etc.