The Texas startup is disrupting home energy storage with massive batteries, low costs, and a grid-first business model — and now it’s valued at $3 billion.
From startup to storage heavyweight
In just two years, Base Power has become a dominant force in home battery storage, and now it’s gearing up for national expansion. The Austin-based startup just raised a $1 billion Series C funding round, following a $200 million raise earlier this year.
The round was led by Addition, with participation from top investors including:
- CapitalG
- Elad Gil
- Lightspeed Venture Partners
- Ribbit Capital
- Thrive Capital
- Valor Equity Partners
This funding round reportedly values the company at $3 billion pre-money, according to The New York Times.
The product: Bigger batteries, smaller barriers
Base Power’s key differentiator is scale and affordability. It offers:
- 25 kWh and 50 kWh home batteries, vastly larger than most competitors (a single Tesla Powerwall has ~13.5 kWh)
- The ability to power a home for up to 48 hours
- Leasing options, starting at just $695–$995 upfront, plus $19–$29/month
Customers must also commit to:
- A three-year electricity contract
- Paying 8.5 cents per kWh, plus delivery fees
- Letting Base Power use their batteries to sell excess power back to the grid
This model makes high-capacity home storage far more accessible by avoiding the typical $10,000+ upfront cost of traditional battery systems.
A perfect fit for Texas — and beyond
Texas’ deregulated energy market has been ideal for Base Power’s launch. The state allows:
- Flexible electricity provider switching
- Incentives for grid support services, rewarding companies that can supply power quickly in high-demand moments
This lets Base Power act as a virtual power plant, aggregating its customers’ batteries to supply the grid — and earn revenue — while still providing backup power for homes.
With this new funding, the company plans to:
- Expand beyond Texas, targeting states with deregulated or evolving grid markets
- Build a second U.S. battery manufacturing facility (its first is already under construction near Austin)
A model aligned with grid resilience
Base Power’s approach is part of a broader trend toward distributed energy resources (DERs) — home and business systems that not only consume electricity but also store and supply it.
By coordinating thousands of home batteries, Base Power can:
- Help balance grid supply and demand
- Offer grid resilience during outages and extreme weather
- Provide financial value to both customers and utilities
This makes the company’s offering attractive to regulators and consumers alike, especially as climate risks and power instability grow.
