BE35 PLT EXPERIENCES ELECTRICAL FAILURE IN ZOA AIRSPACE AND LANDS UNDER DECLARED EMER.

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IFR REDDING; CA (BENTON); TO SANTA ROSA; CA (125 NM); WX 400 FT OVCST; SOLID IFR DEP WITHOUT INCIDENT. PASSING 5000 FT (GOING TO 9000 FT); FLASH UNDER DASH ON COPLT'S SIDE; BLOBS OF GLOWING METAL ON FLOOR; CARPET SMOKING; BIG DRAW ON AMMETER. CALLED CTR; 'I HAVE A PROB;' THEN SWITCHED BATTERY/MASTER OFF. GLOW REMAINED UNDER DASH FOR A FEW SECONDS. THOUGHT I WAS ON FIRE; IMC; WITH NO ELECTRICAL SYS. TURNED ALL ELECTRICAL OFF; PITOT; RADIOS; EVERYTHING. CTLED ACFT; NAV WITH HAND-HELD GPS. LEVELED AT 9000 FT; IMC; NO VOR OR COM RADIO; XPONDER; ETC. TRIED BATTERY ON -- NO OBSERVED SPARKS OR BIG CURRENT DRAW. TRIED ALTERNATOR (INTER-AV ALTERNATOR CONVERSION); NO SUCCESS IN GETTING IT BACK ON-LINE. COM #1 TURNED ON FIRST CONTACTED OAKLAND; ADVISED OF ELECTRICAL FIRE; THAT I WAS TURNING BATTERY BACK OFF; WANTED TO CONSERVE BATTERY PWR. THEY ASKED IF I WANTED TO GO TO REDDING (NEARBY). I SAID NO; I WANTED TO CONTINUE TO DEST STS (50 MINS) -- I WAS NOT THEN READY FOR AN APCH; STILL EVALUATING OPTIONS. FIRST; THOUGHT STS QUICKER; EASIER; BUT WAS CONSIDERING OPTIONS SUCH AS CHICO AND REDDING. STILL NOT SURE IF ANY NAV RADIOS WORKED; NEEDED TIME TO SEE IF THEY WERE; STILL EVALUATE OPTIONS. CONTINUED TOWARD S ON COURSE TOWARD RBL WITH NO RADIOS; BATTERY; MASTER OFF. TURNED ON BATTERY. DETERMINED THAT COM #1 AND NAV #1 (HAS GS) WERE AVAILABLE WITHOUT CREATING PROBS. CONTACTED CTR OVER RED BLUFF (25 MI OUT). CTR DECLARED EMER; DIRECTED ME TO LAND AT REDDING. VECTORED ME N. I ADVISED POS OVER RED BLUFF (VIA INFO FROM HAND-HELD GPS); THEY CLRED FOR THE RBL TRANSITION FOR ILS AT REDDING. I EXECUTED THIS UNEVENTFULLY. ELATED TO BE ON GND! MAINT CURRENTLY PURSUING SOURCE OF ELECTRICAL SHORT; SO FAR FOUND MELTED 18 GAUGE GND WIRE NEAR VOLTAGE REGULATOR; BUT HAVE NOT YET PINPOINTED ACTUAL CAUSE OF SHORT. NO AIRFRAME DAMAGE WAS NOTED; EXCEPT FOR WIRING. ACTUAL CAUSE OF PROB: STILL UNDETERMINED; BUT PROBABLY OLD WIRING WITH FAILED INSULATION. RECOMMENDATION: REPLACE OLD WIRING BEFORE PROBS ARISE.