AGM Friday 25 November Brisbane, page-84

Hi SkyDi,

Yes, I was at the meeting, and I did chat to some people afterwards - I am just that sort of bloke.

The 30% price reduction "guesstimate" is my "reading between the lines" of what Simon said as regards following the cost curve downwards over time as production bugs were ironed out, and Simon's desire to be fairly closely matched to the Tesla price, but not necessarily below it. In my opinion RFX definitely has a better "mousetrap" for residential use, but there will be a perceived value cutoff point where customers go for a reasonable alternative at a cheaper entry point. It really comes down to where the bulk of customers lie in the suitability / value equation.

I think the "unconditional" 10 year warranty (my hope) is a no brainer in that it cannot be matched by Li-ion due to degradation, and would set us apart from all other offerings. If we can get to a point where we have a 5-7 year pay off, with a known/warranted 10 year battery working life, I think we will have nailed it. I have just installed 48 solar panels which I estimate will have a 4 year payback period. If customers could average down the whole system (with battery included) to get to anything less than 7 year payback, using the extra "win" on the panels, I think we will be on a winner.

As regards the picture of the batteries at Simon's place, with one off the floor, it appears that those batteries have a different configuration to the ones on display at the AGM. My guess is that the enclosure for the one at the meeting was approx 400-450 mm deep, but the ones in Simon's enclosure look as though they are only about 300mm deep, but I could be wrong.

Cheers, bd