Austin-Based Startup Accelerates Growth
Base Power, the Austin-based energy storage startup, is ramping up its expansion after raising $1 billion in a Series C funding round. The company, which had previously secured $200 million in April 2025, now has backing from major investors including Addition, CapitalG, Elad Gil, Lightspeed, Ribbit, Thrive Capital, and Valor Equity Partners. The round values Base Power at $3 billion pre-money, according to The New York Times.
Founded in 2023, Base Power has quickly built one of Texas’ largest battery storage systems, selling over 100 megawatt-hours of home storage batteries in just two years. The company’s mission is to make high-capacity home energy storage more accessible and affordable, while also supporting grid reliability.
Revolutionizing Home Energy Storage
Base Power leases high-capacity batteries to homeowners, offering 25-kilowatt-hour and 50-kilowatt-hour options. These batteries significantly outsize most competitors, with the 25-kilowatt-hour unit providing double the storage of a standard Tesla Powerwall. Upfront installation costs range from $695 to $995, a fraction of what typical home storage systems cost, making energy storage more attainable for households.
Customers also pay a monthly fee of $19 or $29, and commit to purchasing electricity from Base Power at 8.5 cents per kilowatt-hour plus delivery fees for three years. This leasing model lowers the barrier of entry and allows homeowners to enjoy the benefits of energy storage without the substantial upfront investment typically required.
Optimizing Grid Efficiency and Incentives
Base Power leverages Texas’ deregulated utility market, which allows households to switch electricity providers easily. Homeowners who opt for Base Power’s batteries agree to let the company use their systems to sell electricity back to the grid when the energy is not needed for home backup. This setup not only provides customers with reliable backup power but also enables Base Power to earn revenue by responding to grid demands efficiently.
By aligning with Texas’ incentive structure for responsive electricity providers, Base Power creates a win-win scenario. Homeowners gain access to affordable, high-capacity batteries, and the company contributes to grid stability while generating additional revenue streams.
Expansion Plans and Factory Development
With the new $1 billion funding, Base Power plans to expand beyond Texas and construct a second battery factory in the United States. The company is currently building its first factory near Austin, Texas, which will support its growing production needs and help meet the increasing demand for home energy storage solutions.
The expansion and factory development highlight Base Power’s ambition to become a leading provider of residential energy storage, addressing both consumer demand and the broader needs of the energy grid.
Impact on the Home Energy Market
Base Power’s approach is reshaping the home energy storage landscape by providing larger, more affordable battery systems while integrating them into the energy grid. The leasing model, combined with smart energy management, enables households to reduce reliance on traditional energy sources and benefit from more reliable backup power.
As energy storage becomes a central component of sustainable energy strategies, Base Power’s growth positions it as a major player in the transition to resilient, renewable-friendly electricity systems.
Looking Ahead
The $1 billion funding round equips Base Power to scale its operations rapidly, invest in research and development, and enhance its battery technology. With the combination of cutting-edge energy storage solutions and grid integration, Base Power is well-poised to transform how homeowners store and use electricity.
Investors’ confidence in the startup underscores the potential of home energy storage to meet future energy demands while providing economic and environmental benefits. Base Power’s innovative model and rapid growth signal a promising future for residential energy solutions in the United States and beyond.
