Base Power raises $1B Series D at $13B valuation for home battery grid storage
Original: Base Power raises another $1B to save the grid using backyard batteries
Why This Matters
Distributed residential battery storage is emerging as a scalable alternative to utility-scale grid infrastructure amid surging electricity demand.
Base Power announced a $1 billion Series D round on August 3, 2026, valuing the company at $13 billion post-money. The Austin-based startup installs subscription-model home batteries at ~100 units/day and has deployed over 500 MWh of storage across Texas and Illinois.
Base Power, a home battery startup co-founded by CEO Zach Dell, has raised $1 billion in a Series D round less than a year after its previous billion-dollar fundraise. The round was led by Ribbit, Addition, Valor Equity Partners, and JPMorganChase's Strategic Investment Group, with participation from a16z, Lightspeed, Coatue, Thrive Capital, CapitalG, Altimeter, and others. The post-money valuation stands at $13 billion.
Unlike competitors that install large-scale grid storage on dedicated land, Base Power places batteries in residential backyards. The company has deployed over 500 MWh of storage to date and is currently installing approximately 100 batteries per day, with plans to double that rate by year-end — equating to roughly 8 MWh of daily installation.
Alongside the funding announcement, Base Power unveiled its new Base Core home battery, manufactured at its Austin, Texas factory. The device holds 39.2 kWh of electricity — significantly more than competing products — and is available in single or dual configurations. In the Houston area, customers pay $695 for installation, $19/month, and 13.1 cents/kWh for electricity. Base Power owns the batteries and sells stored power back to the grid during peak demand. The company operates in Texas and Illinois, the latter being part of PJM's territory, which has faced grid strain due to data center growth and broader electrification.