Core Insights - Base Power has rapidly established itself in the battery storage market in Texas, raising a total of $1.2 billion in funding to support its growth [1][2] Company Overview - Base Power is valued at $3 billion pre-money following its latest funding round [2] - The company has sold over 100 megawatt-hours of home storage batteries since its founding in 2023 [2] Product Offering - Base Power leases batteries to homeowners, with upfront costs ranging from $695 to $995 for 25 kWh or 50 kWh batteries, which offer significantly more capacity than competitors [3][4] - The batteries can provide power for up to 48 hours [3] Pricing Model - Customers pay a monthly fee of either $19 or $29 and commit to purchasing electricity from Base Power at a rate of 8.5 cents per kilowatt-hour for three years, plus delivery fees [3] Market Strategy - By leasing batteries, Base Power reduces the upfront cost barrier for homeowners, as traditional home storage batteries can cost thousands of dollars [4] - The company benefits from Texas's deregulated utility market, allowing easy switching of electricity suppliers [5] Operational Advantages - Texas's utility regulator incentivizes power providers that can quickly supply large amounts of electricity, a strength of grid-scale batteries [6] - Customers allow Base Power to use their batteries to sell electricity back to the grid when not in use for backup power [6] Expansion Plans - Base Power plans to expand beyond Texas and is constructing its first battery factory near Austin, with plans for a second factory in the U.S. [7]