Generally want it facing down so that it is pulling in cool air from under the case. But Suztera is absolutely correct; if the PC sits on a carpet there is the real risk that the carpeting will block airflow and you may overheat the PSU: If it will be on the carpet, mount with the fan facing up. It will be pulling in slightly warmer air from inside the PC (depending on your case and quantity/positioning/rpm of your case fans, but will still get enough 'cool' air to run at proper temperatures.