Base Power raises another US$1 billion in Series D financing for US residential BESS

LinkedIn
Twitter
Reddit
Facebook
Email

Residential energy storage startup Base Power has announced a US$1 billion Series D financing at a US$13 billion post-money valuation, and the launch of its new home battery in production in Austin, Texas, US.

Announced 3 August, Base Power is launching its 39.2kWh residential battery energy storage system (BESS) dubbed Base Core, in production at Base Factory 1 in Austin, Texas.

By comparison, Base Core’s capacity more than doubles the Tesla Powerwall 3’s 13.5kWh capacity.

Additionally, Zach Dell, CEO and co-founder of Base Power, claimed, “It installs in under an hour, switches over seamlessly, is built to handle extreme weather, and delivers extended outage protection at a price Americans can afford.”

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Base previously raised US$1 billion in Series C financing from venture capital (VC) fund Addition, in October 2025.

Since that time, the company has been growing at an impressive pace. In February 2026, Base and utility El Paso Electric Company (EPE) announced a residential distributed energy resource (DER) pilot programme, seeing Base deploy a fleet of networked residential batteries in EPE’s service region.

In March, Base announced a collaboration with another Texas utility, Denton County Electric Cooperative (CoServv), to deploy 100MW of its residential BESS across North Texas.

In June, the company expanded to Illinois, installing BESS for customers in utility ComEd’s service area.

Base claimed that through its partnerships in Texas and Illinoi, it has expanded its fleet to over 500MWh.

The Series D was led by VC and investment firms Ribbit, Addition, Valor Equity Partners, and JPMorganChase’s Strategic Investment Group, part of the firm’s Security and Resiliency Initiative, with participation from Altimeter, D1 Capital Partners, Sands Capital, Coatue, Layer Global, and Energy Impact Partners.

Base’s major existing investors are re-investing, including Thrive Capital, a16z, Lightspeed, Trust Ventures, CapitalG, and more.

The company stated that the newly raised capital will be used for expanding the company’s footprint, Base Core, and hiring.

Market research firm Wood Mackenzie’s Q2 2026 US Energy Storage Monitor, released on 23 June reported that the national attachment rate for residential BESS reached 45% in Q1 2026, up from 38% in Q1 2025 but unchanged from Q4 2025.

California, Texas, Hawaii, and Arizona saw the largest quarter-over-quarter increases in deployed storage capacity during the first quarter. However, the national residential storage market is projected to contract 5% in 2026, driven by US residential solar installer Freedom Forever’s bankruptcy, tax equity constraints, and updated permitting data indicating a sharper decline in capacity additions.

Last month, residential renewable energy solutions company Palmetto launched its Palmetto Energy Backup Plan residential battery subscription in 25 states. The plan has no upfront payment and a fixed US$150 monthly fee for 12 years. It targets an estimated 4 to 4.5 million homes that have rooftop solar but no BESS.

8 September 2026
Barcelona, Spain
Battery & Energy Storage Tech Europe (BESTE) is Europe’s industrial scaling platform for stationary and industrial battery applications — not EVs. Taking place 8–9 September 2026 at Fira de Barcelona, BESTE brings together utilities, IPPs, energy-intensive industries, data centres, ports, rail, maritime, defence and aerospace OEMs — all deploying or integrating battery storage at scale. Over 100 companies already confirmed — including EDP Renewables, Acciona, Endesa, Naturgy, Neoen, Galp, Basquevolt and Veolia — alongside 40+ expert speakers and international institutional support from BEPA, BVES, LDES and Volta Foundation. Where Europe’s battery & ES ecosystem turns projects into reality.
15 September 2026
San Diego, USA
You can expect to meet and network with all the key industry players again in 2025 from major US asset owners, operators, RTOs and ISOs, optimizers, software and analytics providers, technical consultancies, O&M technology providers and more.
15 September 2026
Berlin, Germany
Launching September 2026 in Berlin, Energy Storage Summit Germany is a new standalone event dedicated to Germany’s energy storage market. Bringing together investors, developers, policymakers, TSOs, manufacturers and optimisation specialists, the Summit explores the regulatory shifts, revenue models, financing strategies and technology innovations shaping large-scale deployment. With Germany targeting 80% renewables by 2030, it offers a focused platform to connect with the decision-makers driving the Energiewende and the future of utility-scale storage.
3 November 2026
Málaga, Spain
Understanding technology and supplier selection for Europe’s utility-scale PV market in 2027. PV ModuleTech Europe 2026 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of PV module, inverter and battery supplier selection; product availability, technology offerings, supply chain traceability, quality assurance, factory auditing, system reliability, and supplier bankability.

Read Next

September 7, 2026
Tech giant Google, Tesla, utility Pacific Gas and Electric (PG&E), and distributed energy resource (DER)-focused company Sunrun are launching a new virtual power plant (VPP) in California, US.
September 7, 2026
OptiGrid has been selected by Vena Energy to provide trading optimisation services for the 408MW Bellambi Heights BESS in Australia.
September 4, 2026
East Point Energy, owned by Norwegian state-owned energy company Equinor has completed construction and started operations at the 100MW/200MWh Citrus Flatts energy storage project in Harlingen, Texas, US.
September 4, 2026
A roundup of user-posted analysis, views and unofficial news from across the industry this past week, this time looking at this week’s sabotage attack on the German grid, BESS revenues and electricity market activity, CATL’s LFP price cut and various non-lithium news.
September 4, 2026
Energy Vault has completed the acquisition of the underlying project land for its 125MW/1,000MWh Stoney Creek battery energy storage system (BESS) in northern New South Wales, Australia.