Base Power, an Austin-based startup specializing in home energy storage solutions, has successfully raised $1 billion in a Series C funding round. This substantial investment, led by Addition with contributions from CapitalG, Elad Gil, Lightspeed, Ribbit, Thrive Capital, and Valor Equity Partners, elevates the company’s pre-money valuation to $3 billion. This funding milestone follows a $200 million Series B round in April 2025, underscoring the rapid growth and investor confidence in Base Power’s mission.
Innovative Home Battery Solutions
Since its inception in 2023, Base Power has made significant strides in the home energy storage market. The company has sold over 100 megawatt-hours of its home storage batteries in Texas, a remarkable achievement for a relatively new entrant. Base Power offers two battery models: a 25 kilowatt-hour unit and a 50 kilowatt-hour unit. These capacities are notably larger than many competitors’ offerings; for instance, the 25 kilowatt-hour battery provides double the storage of a single Tesla Powerwall. According to the company, these batteries can sustain a household’s power needs for up to 48 hours, providing a reliable backup during outages.
Affordable Leasing Model
One of Base Power’s key differentiators is its leasing model, designed to make home energy storage more accessible. Homeowners can install these batteries with an upfront payment ranging from $695 to $995, depending on the battery size. This approach significantly reduces the initial financial barrier, as traditional home storage batteries often cost thousands of dollars for less capacity, excluding installation fees. In addition to the upfront cost, customers pay a monthly fee of $19 or $29 and commit to purchasing electricity from Base Power for three years at a rate of 8.5 cents per kilowatt-hour, plus delivery fees.
Leveraging Texas’ Deregulated Energy Market
Base Power has strategically capitalized on Texas’ deregulated utility market, which allows consumers to switch electricity providers with relative ease. This flexibility enables Base Power to offer competitive energy rates and integrate seamlessly into the existing energy infrastructure. Furthermore, Texas’ utility regulations reward power providers capable of supplying large amounts of electricity swiftly during peak demand periods—a capability that grid-scale batteries excel at. In exchange for the low upfront costs, customers agree to let Base Power utilize their batteries to sell electricity back to the grid when not needed for backup power, creating a mutually beneficial arrangement.
Expansion Plans and Manufacturing
With the new funding, Base Power aims to expand its operations beyond Texas, bringing its innovative energy solutions to a broader audience. The company is also planning to build a second battery manufacturing facility in the United States, complementing its first factory currently under construction near Austin, Texas. This expansion is expected to enhance production capacity and meet the growing demand for home energy storage solutions.
Industry Context and Future Outlook
The home energy storage market is experiencing rapid growth, driven by increasing consumer interest in energy independence and resilience. Base Power’s substantial funding rounds and innovative business model position it as a significant player in this evolving landscape. By offering larger capacity batteries at a lower upfront cost and leveraging the flexibility of deregulated energy markets, Base Power is well-equipped to meet the needs of modern homeowners seeking reliable and affordable energy solutions.
