Whatever you do... don't install it in the NACA duct inlet in the side of the fuselage right behind the firewall/cowling. Enough heat from the engine is present there, to cause significant error in measuring the real OAT.
My RV-6 was built with its OAT probe there, and it always reads at least 8-10 degrees high, sometimes much higher. Even on a cool morning flight, when I open the cabin air vents, I get warm-feeling air coming in. A friend who built an RV-4 with NACA cabin air inlets put his there too... it reads high as well. Another friend of mine who built an RV-10 also put his there... same thing always reads high. When we finished the RV-8 in 2010, I knew of these bad readings so I located the Dynon's OAT probe in the NACA duct inlet on the bottom of the right wing (air inlet for the rear seat vent duct) since that is plenty far away from any heat coming off the engine, and it always reads accurate.
I plan to move my OAT probe on my -6 to the underside of the right wing, someday whenever I get around to it.