Base Power Raises Another $1 Billion for Home Batteries

U.S. startup Base Power has raised another $1 billion to develop a network of home battery systems designed to reduce strain on power grids. Following the Series D funding round, the company was valued at $13 billion. ixbt.com reports that the funding marks a significant step toward ensuring energy supply stability and balancing power grids in recent years. Ixbt.com reports .

Over the past few years, Base Power has installed more than 500 MW·soat of energy storage capacity directly at customers’ homes. Instead of building traditional large-scale infrastructure, the company chose a distributed grid model and now installs approximately 100 batteries per day. According to its plans, the company aims to double this pace by the end of the current year, commissioning an additional 8 MW·soat of new capacity every day.

New Technology and Manufacturing

This new funding round came less than a year after the company previously raised $1 billion. Against this backdrop of strong activity in the financial market, Base Power also unveiled Base Core, a new home battery manufactured at its own plant in Austin, Texas. The device can store 39,2 kilsavatt-soat of electricity, significantly outperforming comparable solutions from most competitors on the market.

The systems are currently operating successfully in Texas and Illinois. Electricity demand is surging in these regions due to the broader electrification of the economy and the construction of large data centers for AI technologies. Unlike other companies that install home batteries, Base Power offers customers a convenient subscription model.

Subscription Model and Energy Security

While most installation companies require an upfront payment of several thousand dollars, Base Power takes a completely different approach. For example, in the Houston area, installing one battery costs $695, after which the user pays $19 per month and 13.1 cents for each kW·soat consumed. The company retains ownership of the batteries.

During periods of high demand, the company can resell the stored energy to the power grid. In regulated energy markets, Base Power works closely with utilities. As a result, customers can help reduce the load on local grids while keeping their homes supplied with electricity for a day or longer during outages, thanks to nearly 40 kW·soat of backup capacity.