Base Power's Texas Expansion: 100 MWh Deployed, $1B Funding, U.S. Manufacturing Plans
Base Power, a startup specialising in residential battery storage, has swiftly expanded in Texas. In less than two years, it has deployed over 100 MWh of capacity, providing backup power and participating in grid electricity trading. This growth has been supported by a $1 billion funding round, valuing the company at around $3 billion.
Base Power's model involves leasing batteries to homeowners at a below-market cost, ranging from $695 to $995 upfront. Homeowners also pay a monthly fee and commit to purchasing electricity from the company for three years. This innovative business model has already proven successful in California, Australia, and Japan.
The company's recent qualification for Texas's Aggregated Distributed Energy Resource (ADER) program further boosts its prospects. Base Power aims to build domestic manufacturing capacity for grid storage solutions in the U.S., led by CEO Zach Dell, son of tech mogul Michael Dell.
With over 100 MWh of capacity deployed and $1 billion in new funding, Base Power is poised for significant growth. Its residential battery network, tested globally, is now expanding in Texas. The company's goal to manufacture grid storage solutions domestically underscores its commitment to the U.S. market.
