Texas-based Base Power has raised $1 billion in Series C funding, led by Addition, to accelerate the deployment of its home battery storage solutions.

Existing backers, such as Trust Ventures, Valor Equity Partners, Thrive Capital, Lightspeed, Andreessen Horowitz, Altimeter, StepStone, Elad Gil, 137 Ventures, Terrain, and Waybury, returned for the round. New investors include Ribbit, CapitalG, Spark, BOND, Lowercarbon, Avenir, Glade Brook, Positive Sum, and 1789.

“The chance to reinvent our power system comes once in a generation,” said Zach Dell, CEO and Co-founder at Base Power. “The challenge ahead requires the best engineers and operators to solve it, and we’re scaling the team to make our abundant energy future a reality.”

Base Power leases home batteries, charging an upfront installation fee of $695 for a single 25 kWh unit or $995 for two units totaling 50 kWh. The company said the 50 kWh setup can power a household for up to 48 hours. Customers also pay a monthly membership fee of $19 or $29 and commit to purchasing electricity from Base for three years at $0.085/kWh, plus delivery fees.

Since launching in 2023, Base has deployed more than 100 MWh of residential battery capacity. The company currently serves homeowners across the Dallas–Fort Worth metroplex, Greater Houston, and the Austin region, with plans to expand nationally.

Base recently qualified for Texas’s Aggregated Distributed Energy Resource program, enabling it to pool distributed batteries and bid directly into the grid. This approach, according to Base, will enhance statewide reliability, generate grid revenue, and help lower homeowner costs, while demonstrating that distributed assets can operate at a utility-scale level.

In April this year, Base Power secured $200 million in a Series B funding round.

Corporate funding for energy storage companies fell sharply in the first half (1H) of 2025 to $9.1 billion across 55 deals, according to Mercom Capital Group’s 1H and Q2 2025 Funding and M&A Report for Energy Storage. This represents a 41% year-over-year (YoY) decline from $15.4 billion, resulting from 64 deals, in the same period of 2024.