Just two years after its founding, Base Power has raised $1 billion in Series C funding to accelerate the deployment of home battery systems across the United States.
The new round — led by Addition with participation from CapitalG, Elad Gil, Lightspeed, Ribbit Capital, Thrive Capital, and Valor Equity Partners — values the company at $3 billion pre-money, according to The New York Times.
This latest round follows the company’s $200 million raise in April, underscoring growing investor confidence in its model for distributed energy storage and grid resilience.
Bringing Large-Scale Energy Storage to Homes
Founded in 2023, the company has rapidly become one of the fastest-growing energy startups in the U.S., already deploying over 100 megawatt-hours of residential battery storage across Texas.
The company leases 25-kilowatt-hour and 50-kilowatt-hour home batteries — both significantly larger than typical residential units like the Tesla Powerwall. Each battery can power a home for up to 48 hours, depending on usage.
Homeowners pay an upfront installation fee of $695–$995 and a monthly subscription of $19 or $29, which includes access to Base Power’s electricity plan at 8.5 cents per kilowatt-hour, plus standard delivery fees.
By offering batteries through an affordable leasing model, Base Power eliminates one of the biggest barriers to adoption — the high upfront cost of home energy storage systems, which can otherwise run into tens of thousands of dollars.
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Turning Home Batteries into Grid Assets
Base Power’s business model takes advantage of Texas’ deregulated energy market, where consumers can freely switch providers and where utilities reward energy suppliers that can stabilize the grid during high demand periods.
Customers agree to let Base Power use their batteries to feed power back into the grid when not needed for home backup — a system that provides homeowners with low-cost energy and gives utilities rapid access to distributed power resources.
“We’re building the world’s largest decentralized battery network,” said a company spokesperson. “By turning every home battery into a grid resource, we’re lowering costs for consumers while improving energy reliability statewide.”
This grid-interactive model allows Base Power to balance local electricity supply and demand in real time — a critical advantage in regions like Texas that experience both extreme weather and volatile power prices.
Expanding Beyond Texas
With the new capital, Base Power plans to expand its home battery offering beyond Texas and begin construction on its second U.S. battery manufacturing facility. Its first factory, located near Austin, is already under development.
The expansion marks a major step toward Base Power’s vision of making home battery storage a standard feature of modern energy infrastructure — giving homeowners more control, utilities more flexibility, and the grid greater resilience.
About Base Power
Base Power provides affordable, high-capacity home battery systems that store clean energy and support grid stability. Through its leasing model and intelligent grid integration, Base Power is building a distributed energy network that empowers homeowners and accelerates the transition to resilient, renewable-powered communities.
