Base Power, a startup that installs home batteries in people's backyards, has raised $1 billion in funding to expand its business. The company aims to alleviate strain on the electrical grid by storing excess energy in batteries, which can then be sold back to the grid during periods of high demand. Base Power's batteries can store up to 39.2 kilowatt-hours of electricity and provide backup power for a day or more.
Base Power Raises $1B to Expand Home Battery Storage
UKPulse News DeskBase Power has raised $1 billion in funding to expand its home battery storage business, which aims to alleviate strain on the electrical grid by installing batteries in people's backyards.
- Base Power has raised $1 billion in funding to expand its home battery storage business.
- The company installs batteries in people's backyards to alleviate strain on the electrical grid.
- Base Power has installed over 500 megawatt-hours of storage over the past few years.
Why this matters: The funding round highlights the growing importance of home battery storage in alleviating strain on the electrical grid.
What this means for you: If you're a homeowner in Texas or Illinois, you may be eligible for Base Power's home battery storage service, which can provide backup power during blackouts and help alleviate strain on the electrical grid.