The thermal expansion valve is designed to release pressure buildup when the cold water entering the water heater is heated and therefore expands. It will operate on a regular basis, releasing small amounts of water every time. Therefore, unless the line that is attached to the T&P valve is routed to a location that won't be a nuisance or otherwise cause problems, I wouldn't.
Another option is to install an expansion tank in place of the expansion valve. This is a small bladder tank that absorbs the increasing volume of the expanding water, and therefore does not release water every time.
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Lake County, Florida plumber
Springtime Plumbing Services, LLC
License #11067533
352-630-5673
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