Conquer The Rising Cost of Energy


The Business: The Power Panda The Heroes: Andrew and Wendy Greaves, and Robina Georgiev The Alchemist: Jamie McKean, Waikato Made In: New Zealand


Where Does Innovation Come From?


Well, it could be that innovation is triggered by a rising problem: In this story, it was the rising cost of electricity.


Andrew Greaves, an engineer by background and inventor by hobby, got to work to find out the most obvious electrical inefficiencies could be found in a typical home. He was looking for the weakest link in the electrical circuit of a typical home.


The Problem: Did you know that the operation of a standard hot water cylinder can consume up to 45% of the electricity used in a home? Yes, that is correct, hot water systems are extremely power hungry.


The Solution: To reduce the amount of time that the water heats for and to smooth out the flow of electricity to the hot water system.


The Product: A device that allows you to set the times you want the water to heat so that you only pay for what you need.


And, this is how The Power Panda was born. f


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