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.”
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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.
