CIRRUS SR20 ELECTRICAL MALFUNCTION CREATED SMOKE IN COCKPIT OF THE ACFT DURING TAXI. PLTS SHUT DOWN; REMOVED ELECTRICAL PWR; AND EVACUATED ACFT.

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WHILE COMPLETING PRE-TAXI CHECKS AND OBTAINING A TAXI CLRNC; SMOKE BECAME VISIBLE IN THE VICINITY OF THE THROTTLE QUADRANT. AS I DIRECTED MY ATTENTION TO THE THROTTLE QUADRANT AREA; I NOTICED VISIBLE FLAMES INSIDE OF THE CENTER CONSOLE. I IMMEDIATELY PULLED THE MIXTURE TO IDLE CUTOFF WITH MY R HAND WHILE SIMULTANEOUSLY REACHING WITH MY L HAND TO SWITCH OFF ALL BATTERY AND ALTERNATOR MASTER SWITCHES. AS SOON AS ALL SWITCHES WERE PLACED IN THE OFF POSITION; THE FLAMES SUBSIDED. I INSTRUCTED MY STUDENT TO REMOVE THE FIRE EXTINGUISHER FROM ITS HOLDER IN CASE THE FIRE REIGNITED. IT DID NOT. WE EVACUATED THE AIRPLANE. MAINT DEPARTMENT WAS CALLED TO LOOK AT THE ACFT. THE SOURCE OF THE SMOKE AND FLAMES WAS DETERMINED TO BE A TRANSIENT VOLTAGE SUPPRESSOR LOCATED ON THE CB PANEL. ARPT FIRE AND RESCUE CREWS WERE NOT CALLED OUT DUE TO THE LOCAL AREA OF THE FIRE AND THE RELATIVELY SHORT DURATION. IF FACED WITH THIS SCENARIO AGAIN; I WOULD LIKELY CALL FIRE AND RESCUE TO THE SCENE AS A PRECAUTIONARY MEASURE. HAD THIS SITUATION AROSE IN FLT AND/OR DURING IMC CONDITIONS IT MAY HAVE HAD A LESS FAVORABLE ENDING. THIS PARTICULAR ELECTRICAL COMPONENT SEEMS TO BE TROUBLESOME FOR CIRRUS ACFT AND SHOULD BE ADDRESSED SOON TO PREVENT FURTHER OCCURRENCES.CALLBACK CONVERSATION WITH RPTR REVEALED THE FOLLOWING INFO: RPTR STATED THAT NO ADDITIONAL DAMAGE WAS SUSTAINED AND THE ELECTRICAL FIRE WAS WITHIN THE TRANSIENT VOLTAGE SUPPRESSOR ITSELF. FAILURE OF THIS COMPONENT DOES FAIL THE ESSENTIAL BUS; HOWEVER.