Basis
Transforming the traditional electrical switchboard into a modern energy management tool.
Basis is an Auckland-based innovator that exists to radically accelerate the clean energy revolution. The company aims to put a smart panel in every home in the world to intelligently manage energy demand and reduce electricity use.
Solution
Basis has developed an advanced residential smart panel, transforming the traditional electrical switchboard into a modern energy management tool. The product enhances electrical safety while allowing homeowners to monitor and manage their electricity consumption. The company plans to launch the smart panel in early 2025 and has raised $40 million to support its development. Households across New Zealand are currently struggling against increasing electricity prices and lack means to influence their bill. Basis smart panel’s provide consumers with real-time insight into their energy usage at the sub-circuit level and, most importantly, the ability to manage these costs. At the same time, every subcircuit is digitally configurable, facilitating the accelerated adoption of distributed energy resources.
With support from Ara Ake, Basis is developing a demand flexibility solution that will enhance electricity network management and enable retailers to implement dynamic pricing strategies— benefiting consumers with lower electricity costs.
Impact Unlocked
At a household level, the smart panels could save up to $650 annually on electricity costs. This saving comes through optimisation of energy usage and shifting demand into off-peak times and flows through to a reduction in electricity-related carbon emissions of around 15%. Within five years of product launch, Basis expects to deliver emissions reductions of over 180,000 tonnes per year. The Smart Panel will also benefit the wider electricity industry by unlocking flexibility services that enhance grid reliability and reduce costs. For example, optimised electric vehicle charging could save the New Zealand electricity network $4 billion by 20501. Broad adoption of smart panels would support the planned transition to 100% renewable energy and electrification of the transportation sector. Both objectives are critical to New Zealand’s decarbonisation strategy that aims to reduce emissions from transport and electricity generation by 80% by 2050, or 11 Mt of CO2 annually.
Ara Ake Contribution
Basis is collaborating with Ara Ake to coordinate a multi-actor initiative to demonstrate the potential of smart panels in enabling a flexible smart grid. Support from Ara Ake enables Basis to accelerate this initiative, despite the lack of short-term financial benefit for the company. In addition, by facilitating sector engagement, Ara Ake enhances the probability of developing a solution that works for the wider industry.