1 00:00:00,120 --> 00:00:01,920 Speaker 1: New startup for you might end up in your house. 2 00:00:01,920 --> 00:00:04,240 Speaker 1: In fact, it's a smart panel could reduce your power bill. 3 00:00:04,280 --> 00:00:06,840 Speaker 1: Basically it replaces your switchboard. Now Danny Purcell is the 4 00:00:06,880 --> 00:00:11,440 Speaker 1: founder of Basis Smart Panels and is with us Danny Morning, Morning, Mike. 5 00:00:11,640 --> 00:00:15,280 Speaker 1: So it's ready to be installed, which means what, how 6 00:00:15,600 --> 00:00:17,720 Speaker 1: long has the journey been to get here? 7 00:00:18,520 --> 00:00:20,720 Speaker 2: Oh, I've seen a long journey where well over four 8 00:00:20,800 --> 00:00:25,520 Speaker 2: years of product development, testing, prototyping, and yeah, we have 9 00:00:26,079 --> 00:00:30,159 Speaker 2: product available in New Zealand sitting with electricians ready to 10 00:00:30,160 --> 00:00:32,720 Speaker 2: be installed at homes and it's an exciting step. 11 00:00:32,880 --> 00:00:36,440 Speaker 1: It's supported by an app, so from what I'm reading, 12 00:00:36,479 --> 00:00:39,800 Speaker 1: it essentially allows you or tells you what you're using 13 00:00:39,840 --> 00:00:41,879 Speaker 1: how you're using it. So you've got some sort of 14 00:00:41,920 --> 00:00:42,559 Speaker 1: input into that. 15 00:00:42,640 --> 00:00:46,919 Speaker 2: Is that right? There's absolutely correct. So once the panel's installed, 16 00:00:46,960 --> 00:00:50,720 Speaker 2: you'll have full visibility into how electricity is consumed in 17 00:00:50,760 --> 00:00:54,240 Speaker 2: your house. Do you understand appliances and how they're use 18 00:00:54,680 --> 00:00:56,440 Speaker 2: but you also have a really good understanding of the 19 00:00:56,480 --> 00:00:59,560 Speaker 2: electrical health of your home. So it's a tremendous amount 20 00:00:59,640 --> 00:01:03,080 Speaker 2: of information that our houses contain and the way we 21 00:01:03,200 --> 00:01:05,480 Speaker 2: use electricity, and we're bringing all of that to lights, 22 00:01:05,520 --> 00:01:08,240 Speaker 2: the customers can save money and make down safe. 23 00:01:08,240 --> 00:01:10,640 Speaker 1: What's the conversion in the sense that it will cost 24 00:01:10,640 --> 00:01:13,520 Speaker 1: me money to do that, and therefore I do save money. 25 00:01:13,520 --> 00:01:15,920 Speaker 1: What was it twelve thirteen hundred dollars potentially a year. 26 00:01:16,000 --> 00:01:17,000 Speaker 1: Does it pay for itself? 27 00:01:17,959 --> 00:01:21,600 Speaker 2: Yeah, pays itself back pretty quickly. So as an early 28 00:01:21,640 --> 00:01:25,440 Speaker 2: startup launching costs the production will be at their absolute highest, 29 00:01:26,280 --> 00:01:29,560 Speaker 2: we would expect the payback period to be around fifteen 30 00:01:29,600 --> 00:01:33,560 Speaker 2: to eighteen months for the average customer. And the kind 31 00:01:33,600 --> 00:01:37,080 Speaker 2: of delta and cost to a traditional electrical panel being 32 00:01:37,080 --> 00:01:39,080 Speaker 2: fully installed is around fifteen hundred dollars. 33 00:01:39,640 --> 00:01:42,360 Speaker 1: It's three bucks a day, which is twelve hundred dollars annually. 34 00:01:42,959 --> 00:01:45,759 Speaker 1: Who's interested? I mean some at three bucks a day, 35 00:01:45,760 --> 00:01:46,639 Speaker 1: some are, some aren't. 36 00:01:47,720 --> 00:01:52,040 Speaker 2: Yeah, you're absolutely right, and so from a pure power 37 00:01:52,080 --> 00:01:57,600 Speaker 2: savings perspective, you'd be surprised. Power is disproportionately used by 38 00:01:58,560 --> 00:02:01,640 Speaker 2: people with higher incomes and they care about it when 39 00:02:01,640 --> 00:02:04,040 Speaker 2: they're exposed to it. I would say I was someone 40 00:02:04,040 --> 00:02:06,200 Speaker 2: who didn't really care about it. I've had a panel 41 00:02:06,240 --> 00:02:08,440 Speaker 2: in my house and I've already figured out how to 42 00:02:08,440 --> 00:02:10,760 Speaker 2: save fourteen hundred dollars a year. And I've acted on that. 43 00:02:10,880 --> 00:02:13,960 Speaker 1: But is that because you're a geek and you go, oh, 44 00:02:14,080 --> 00:02:17,040 Speaker 1: if I adjust that turne that on switch, that move 45 00:02:17,120 --> 00:02:19,680 Speaker 1: that here is and look at me, aren't I calls 46 00:02:19,720 --> 00:02:21,359 Speaker 1: it become a game in that sense? 47 00:02:22,200 --> 00:02:24,960 Speaker 2: I don't think so. I think the actions to save 48 00:02:25,040 --> 00:02:27,720 Speaker 2: money are relatively simple and easy. You don't need to 49 00:02:27,760 --> 00:02:30,000 Speaker 2: do a lot to save a lot. You just need 50 00:02:30,040 --> 00:02:32,240 Speaker 2: to shift a few high loads in your house. You 51 00:02:32,280 --> 00:02:34,760 Speaker 2: don't need to monitor it constantly, and it's really just 52 00:02:34,840 --> 00:02:37,639 Speaker 2: moving the large, large loads in your home. Like hoult 53 00:02:37,639 --> 00:02:41,320 Speaker 2: water use. It's pretty simple. It should be hands off 54 00:02:41,320 --> 00:02:43,160 Speaker 2: and it should be run for you fantastic. 55 00:02:43,400 --> 00:02:45,800 Speaker 1: Are you in a crowded market of people doing similar 56 00:02:45,880 --> 00:02:47,280 Speaker 1: things that are you going to bleed here? 57 00:02:48,200 --> 00:02:52,560 Speaker 2: So in the product category, it's absolutely crowded. In the 58 00:02:52,600 --> 00:02:56,640 Speaker 2: incumbent world, there is tens of millions of electrical panels 59 00:02:56,639 --> 00:02:59,959 Speaker 2: installed around the world every year. We are the first 60 00:03:00,160 --> 00:03:04,880 Speaker 2: that has ever digitized safety and this is really important 61 00:03:04,919 --> 00:03:08,560 Speaker 2: for electricians. A core part of our founding story was 62 00:03:09,040 --> 00:03:12,680 Speaker 2: electrification and rising electricity costs were bringing a world of 63 00:03:12,760 --> 00:03:17,080 Speaker 2: pain into the design and installation of system and an 64 00:03:17,120 --> 00:03:20,520 Speaker 2: innovation that's world first out of new Zealand by some 65 00:03:20,600 --> 00:03:25,240 Speaker 2: incredibly smart engineers. Is how we can figure safety, and 66 00:03:25,280 --> 00:03:27,400 Speaker 2: that's all done through an app for electricians. I like 67 00:03:27,440 --> 00:03:28,679 Speaker 2: it completely step fantastic. 68 00:03:28,919 --> 00:03:30,519 Speaker 1: Well go well that, Danny. I hope it works a 69 00:03:30,520 --> 00:03:33,160 Speaker 1: trade for you, Danny Purcell, who's the founder co founder 70 00:03:33,200 --> 00:03:37,960 Speaker 1: of Basis Smart Panels. For more from The mic Asking Breakfast, 71 00:03:38,120 --> 00:03:41,440 Speaker 1: listen live to news talks. It'd be from six am weekdays, 72 00:03:41,680 --> 00:03:43,720 Speaker 1: or follow the podcast on iHeartRadio.