en.Wedoany.com Reported - U.S. energy storage startup Base Power has completed a Series D funding round, raising $1 billion and valuing the company at $13 billion. The round comes less than a year after its previous multi-billion-dollar fundraising.

The startup, which operates in Texas and Illinois, has installed more than 500 megawatt-hours of energy storage to date. Base Power currently installs approximately 100 batteries per day and plans to double its daily installation rate by the end of the year, equivalent to adding roughly 8 megawatt-hours of storage per day.

Base Power's approach differs from the industry mainstream. Most energy storage companies tend to acquire large tracts of land near major grid interconnection points, while Base Power chooses to install batteries directly in customers' backyards. The Wall Street Journal wrote in its report that this bet aims to compete through distributed deployment.

Alongside the funding announcement, the company also unveiled its latest home battery, the Base Core. Manufactured at its Austin, Texas facility, the product stores 39.2 kilowatt-hours of electricity, offering higher capacity than comparable competitors. Customers can choose to install one or two batteries as needed; at nearly 40 kilowatt-hours of capacity, the battery can power a home for a day or more during outages.

Base Power's business model differs from traditional home battery installers. While the latter typically charge customers thousands of dollars upfront for equipment, Base Power offers batteries on a subscription basis. In the Houston area, for example, installation costs $695, with a $19 monthly fee and electricity billed at 13.1 cents per kilowatt-hour, roughly on par with prevailing local residential rates. Base Power retains ownership of the batteries and generates revenue by selling stored electricity back to the grid during peak demand periods.

In regulated markets, Base Power partners with utilities to install batteries in customers' homes to relieve strain on the local grid; in deregulated markets, homeowners can use the batteries for backup power during outages.

The round was led by Ribbit, Addition, Valor Equity Partners, and JPMorganChase's Strategic Investment Group, with participation from Altimeter, D1 Capital Partners, Sands Capital, Coatue, Layer Global, Energy Impact Partners, Thrive Capital, a16z, Lightspeed, Trust Ventures, CapitalG, and others.

Base Power was co-founded by Zach Dell, who serves as CEO. Michael Dell, CEO of Dell Technologies and Zach's father, did not participate in this funding round.

The funding comes as economy-wide electrification and rapid construction of AI data centers drive up electricity demand. After decades of stagnation, the U.S. grid has begun expanding in recent years. The surge in demand has strained grids in many regions, particularly the PJM grid, which hosts a large number of data centers—parts of Illinois where Base Power operates fall within the PJM footprint.

With backyard battery deployment paired with affordable subscription pricing, Base Power's distributed approach is participating in grid regulation. The newly raised $1 billion reflects growing investor recognition of this business model.