Base Power
Provides affordable, reliable home energy with battery backup and electricity plans starting in Texas.
Website: https://www.basepowercompany.com/
Cover Block
| Field | Value |
|---|---|
| Name | Base Power |
| Tagline | Affordable, reliable home energy with battery backup and electricity plans, starting in Texas |
| Headquarters | Austin, Texas, United States |
| Founded | 2023 |
| Stage | Series B (with a subsequent $1B raise reported) |
| Business Model | B2C (residential electricity retail plus hardware) |
| Industry | Cleantech / Climatetech |
| Technology | Hardware (residential battery systems) plus retail electricity software |
| Geography | North America (Texas / ERCOT, expanding toward PJM) |
| Growth Profile | Venture Scale |
| Founding Team | Co-Founders (2): Zach Dell, Justin Lopas |
| Funding Label | $100M+ |
| Total Disclosed | ~$1.0B across Series B and a subsequent reported round [ESG Today] |
Links
- Website: https://www.basepowercompany.com/
- LinkedIn: https://www.linkedin.com/company/basepowercompany
- Careers: https://www.basepowercompany.com/careers
- Engineering blog: https://inside.basepowercompany.com/
The Short Version
Base Power is an Austin-based residential power company that bundles a large home battery with a retail electricity plan, then dispatches the resulting fleet into ERCOT's ancillary services market to subsidize the cost of the hardware [Canary Media]. The company was founded in 2023 by Zach Dell (CEO) and Justin Lopas (COO). It has moved from a single installation cadence to roughly 50 daily deployments [Base Power]. Lopas previously led manufacturing at Anduril and, before that, was a lead manufacturing engineer on SpaceX's Starship program [TechCrunch, 2022][ContactOut]. The company has raised a $200M Series B led by Addition with participation from a16z, Lightspeed, Valor, Thrive, Altimeter, Trust Ventures, Terrain and CapitalG, and a subsequent round reported at roughly $1B [Canary Media][ESG Today]. As of fall 2025, more than 100 MWh of residential battery capacity has been deployed and a 20 MW dispatchable fleet is live [Yahoo Finance][Energy Storage]. Over the next 12 to 18 months, the items to watch are the company's progress adapting the model for PJM and the execution of a reported $265M battery manufacturing facility near the Austin airport [Yahoo Finance].
Data Accuracy: GREEN -- Confirmed across Canary Media, ESG Today, Latitude Media, Contrary Research, and Base Power's own disclosures.
Taxonomy Snapshot
| Axis | Value |
|---|---|
| Stage | Series B (plus reported ~$1B follow-on) |
| Business Model | B2C retail electricity plus hardware-as-a-service |
| Industry / Vertical | Residential energy storage and retail power |
| Technology Type | Hardware (battery systems) plus dispatch software |
| Geography | Texas (ERCOT), expansion toward PJM reported |
| Growth Profile | Venture Scale |
| Founding Team | Two co-founders, hardware-heavy backgrounds |
| Funding | ~$1.0B total disclosed across rounds |
The Company in Brief
Base Power was incorporated in 2023 in Austin, Texas, by Zach Dell and Justin Lopas [Base Power][Contrary Research]. The company describes itself as the first power company designed around a vertically integrated stack: it manufactures and installs the battery, sells the customer their retail electricity plan, and operates the resulting fleet as a grid asset [Base Power][LinkedIn]. Texas was a deliberate launch market. ERCOT is an energy-only market with no capacity payments, and most residential customers do not bear grid-usage charges directly, both of which make the unit economics of arbitrage and ancillary services more legible than in most other U.S. regions [Latitude Media].
The company exited stealth in 2023, raised a $200M Series B led by Addition in 2024, and was subsequently reported by ESG Today and others to have closed a follow-on round at roughly $1B in aggregate [Canary Media][ESG Today]. Operationally, Base reported scaling from a single installation per day to roughly 50 per day [Base Power], and partnered with Texas distribution co-op CoServ to launch a 100 MW home-battery network [Base Power][Canary Media]. By fall 2025, third-party coverage put deployed residential battery capacity at more than 100 MWh and dispatchable capacity at roughly 20 MW [Yahoo Finance][Energy Storage]. The company has also disclosed plans for a $265M battery manufacturing facility near Austin-Bergstrom, which is projected to add 500 jobs [Yahoo Finance].
Data Accuracy: GREEN -- Confirmed by Crunchbase, Canary Media, ESG Today, Yahoo Finance, and Base Power.
What They Have Built
Base sells two things that are intentionally hard to separate: a home battery and a retail electricity contract. The hardware line runs from a 20 kWh wall-mounted unit to a 50 kWh ground-mount unit [Base Power]. Pricing is structured as a low upfront installation fee plus a monthly membership; the published CoServ tariff lists backup battery installation from $345 with a $19/month membership, and a separate Microgrid Knowledge writeup cites a $695 upfront and $19/month resilience-as-a-service tier [Base Power][Microgrid Knowledge]. On the retail side, Base markets guaranteed below-market energy rates [Base Power].
The technical architecture that ties the two products together is the dispatch layer. Base oversizes residential batteries relative to a household's backup needs, then aggregates the fleet and bids it into ERCOT's ancillary services market, using the grid revenue to recoup hardware cost and subsidize the retail rate [Canary Media][Latitude Media]. Customer-facing software includes a mobile app for monitoring battery state and outage notifications; reviews are mixed, with positive feedback during real outage events alongside complaints that the app does not surface battery percentage and that billing has been inconsistent for some users [Google Play Reviews][Reddit].
Data Accuracy: GREEN -- Confirmed by Base Power, Canary Media, Latitude Media, and Microgrid Knowledge.
Market Research and Opportunity
The U.S. retail power market is being reshaped by load growth, grid reliability concerns, and the economics of distributed storage. The Information has placed the U.S. power industry at roughly half a trillion dollars in annual value [The Information]. Within that, residential retail electricity in deregulated states and behind-the-meter battery storage are the two segments most directly addressable by Base's model.
Demand drivers are converging. ERCOT load has been growing on the back of data center buildout, electrification, and population growth, while the frequency of high-impact reliability events has made residential backup a salient consumer purchase [Latitude Media][Canary Media]. Ancillary services pricing in ERCOT, particularly for fast-responding resources, has supported the unit economics that make Base's subsidy model viable [Latitude Media].
| Sizing claim | Value |
|---|---|
| U.S. power industry | ~$500B annual |
| Base deployed residential battery capacity (fall 2025) | >100 MWh |
| Base dispatchable fleet | ~20 MW |
Data Accuracy: GREEN -- Confirmed by The Information, Latitude Media, Canary Media, and Yahoo Finance.
Who Else Is Fighting for This
| Company | Positioning | Stage / Funding | Notable Differentiator |
|---|---|---|---|
| Base Power | Battery plus retail electricity, dispatched into ERCOT | Series B, ~$1B reported total | Vertical integration of hardware, retail, and grid-services dispatch |
| Tesla (Energy / Powerwall) | Battery hardware sold via installers, plus VPP programs | Public (NASDAQ: TSLA) | Brand, in-house cells, large installed base |
| Sunrun | Residential solar plus storage, lease and PPA | Public (NASDAQ: RUN) | National solar installation footprint and financing |
Incumbent Texas retail electricity providers own the customer relationship that Base is trying to displace, but they do not own the hardware layer. Tesla's Powerwall has the brand and the installed base, and Tesla operates VPP programs, but Tesla sells through installers rather than as a retail electricity provider. Sunrun anchors the solar-led category and has the national installation footprint and financing relationships that Base will need to rebuild market by market.
Base's most defensible edge today is the bundling itself: by being both the REP and the asset owner, it captures the full economic stack from retail margin to wholesale ancillary services revenue. That edge is durable to the extent that no incumbent has all three muscles under one roof, and to the extent that the founding team's manufacturing pedigree actually translates into per-unit cost declines [TechCrunch, 2022][ContactOut].
Data Accuracy: GREEN -- Confirmed by Canary Media, Latitude Media, ESG Today, and Yahoo Finance.
Opportunity
The headline opportunity
The single largest plausible outcome is that Base becomes the default residential power company in deregulated U.S. markets, owning the customer bill, the asset on the wall, and a meaningful slice of grid-services revenue in each RTO it enters. The company has demonstrated a 50-per-day install cadence, more than 100 MWh of deployed capacity, and a 20 MW dispatchable fleet within roughly two years of founding [Base Power][Yahoo Finance][Energy Storage]; it has secured a structural utility partnership with CoServ [Canary Media]; and it has attracted roughly $1B of capital from a syndicate that includes Addition, a16z, Lightspeed, Altimeter and CapitalG [ESG Today][Canary Media].
Growth scenarios
| Scenario | What happens | Catalyst |
|---|---|---|
| Texas saturation | Base becomes the default REP-plus-battery bundle across ERCOT | Second and third utility partnerships; Austin manufacturing facility comes online |
| Multi-RTO expansion | Base adapts the model for PJM and additional deregulated markets | Regulatory clearance and a PJM utility partnership |
| Manufacturing platform | Base's in-house battery production becomes a cost advantage | Austin facility ramp; founder manufacturing pedigree translates to unit cost declines |
What compounding looks like
The flywheel is straightforward: each additional installed battery adds dispatchable MW to the ERCOT fleet, which raises ancillary services revenue per customer, which funds either deeper retail rate cuts or higher hardware subsidies, which in turn lowers customer acquisition cost for the next install. Utility partnerships add a second compounding layer because they collapse customer acquisition cost on a per-territory basis [Canary Media].
Data Accuracy: GREEN -- Confirmed by Canary Media, Latitude Media, Yahoo Finance, ESG Today, and The Information.
Sources
- [Base Power] Affordable, Reliable Home Power | https://www.basepowercompany.com/
- [Base Power] About | https://www.basepowercompany.com/about
- [Base Power] Battery & Energy Plans and Pricing | https://www.basepowercompany.com/plans
- [Base Power] Battery Specifications | https://www.basepowercompany.com/specs
- [Base Power] Announcing Base Power's Series B Fundraise | https://www.basepowercompany.com/series-b
- [Base Power] Build the future of American power, Careers | https://www.basepowercompany.com/careers
- [Base Power] Scaling Daily Deployments from 1 to 50 | https://inside.basepowercompany.com/p/scaling-daily-deployments-from-1
- [Base Power] How grid-balancing works | https://www.basepowercompany.com/blog/how-grid-balancing-works
- [Base Power] CoServ Pricing | https://www.basepowercompany.com/pricing/coserv
- [Base Power] Base vs other Texas electricity providers (2025) | https://www.basepowercompany.com/blog/compare-base-energy
- [Contrary Research] Base Power Business Breakdown & Founding Story | https://research.contrary.com/company/base-power
- [ESG Today] Home Energy Storage Startup Base Power Raises $1 Billion | https://www.esgtoday.com/home-energy-storage-startup-base-power-raises-1-billion/
- [Canary Media] Base Power lands $200M for rapidly growing home-battery business | https://www.canarymedia.com/articles/batteries/base-power-investment-growth
- [Canary Media] Base Power to launch 100-MW home battery network for Texas utility | https://www.canarymedia.com/articles/batteries/base-power-to-launch-100-mw-home-battery-network-for-texas-utility
- [Latitude Media] Base Power is adapting its distributed battery storage program for PJM | https://www.latitudemedia.com/news/base-power-is-adapting-its-distributed-battery-storage-program-for-pjm/
- [Crunchbase] Base Power Company Profile & Funding | https://www.crunchbase.com/organization/base-power
- [Crunchbase News] The Week's Biggest Funding Rounds: Base Power | https://news.crunchbase.com/venture/biggest-funding-rounds-base-power-caris/
- [LinkedIn] Base Power Company | https://www.linkedin.com/company/basepowercompany
- [Bloomberg] Zach Dell, Base Power Inc: Profile and Biography | https://www.bloomberg.com/profile/person/25365923
- [The Information] Zach Dell Thinks He Can Solve America's Energy Crisis | https://www.theinformation.com/articles/zach-dell-thinks-can-solve-americas-energy-crisis
- [TechCrunch, 2022] Anduril manufacturing leadership coverage | https://techcrunch.com/
Articles about Base Power
- Base Power Wants a 50kWh Battery Bolted to Every Texas House — The Austin startup is selling cheap backup hardware as the wedge into a virtual power plant that bids into ERCOT.