Archive — US — techcrunch
Base Power raises another $1B to save the grid using backyard batteries
Base Power has raised $1 billion in Series D funding, bringing its valuation to $13 billion. The startup specializes in residential battery storage, installing over 500 megawatt-hours recently, and plans to double installations. Its new BaseCore batteries, capable of storing 39.2 kilowatt-hours, are offered via subscription, addressing rising electricity demand and grid strain due to economic electrification and data centers.
Key points
- Base Power raised $1 billion in Series D funding.
- The company is valued at $13 billion post-money.
- It installs over 100 batteries a day, aiming to double that by year's end.
- The new BaseCore battery can store 39.2 kilowatt-hours, more than competitors.
- Battery installations are offered on a subscription basis, making it affordable.
- Base Power sells stored electricity back to the grid, especially during peak demand.
- Electricity demand is rising due to electrification and AI data centers.
- The U.S. electrical grid is strained, particularly in Illinois and PJM areas.
Why it matters
- The rise of home battery storage aligns with the growing interest in decentralized energy solutions.
- With climate concerns, there's a trend toward sustainable energy, reflected in companies like Base Power.
- As demand for electricity increases due to tech advancements, solutions like home storage could become critical.
- The subscription model reflects a shift in consumer purchasing behaviors, emphasizing accessibility in energy.
Base Power's successful funding and innovative approach to energy storage highlight a significant trend towards local solutions to rising energy demand, potentially positioning the company as a leader in the evolving energy landscape.