This is a often asked question, and can be confusing to know the correct answer. There are class 1, 2 and 3 circuits. Class 1 can occupy the same raceway and enclosure as your power conductors as long as the insulations are the same, basically all need to have 600 volt insulation. Class 2 and 3 are not allowed to be in the same raceway or enclosure, regardless of the insulation. It has to do with the rating on the transformer. If your transformer for your low voltage lights says class 2 or 3 on it, then I would say no. I don't completely understand it all. I know that I have seen it a lot in HVAC, where the 24 volt is with the 240 volt