Base Power, a startup focused on home battery storage, has raised $1 billion in a Series C funding round led by Addition, with participation from several notable investors. This funding comes after the company raised $200 million earlier in the year and is aimed at accelerating its growth in the energy storage market. Since its founding in 2023, Base Power has sold over 100 megawatt-hours of batteries in Texas, utilizing a leasing model that allows homeowners to install batteries at a lower upfront cost. Customers pay a monthly fee and agree to purchase electricity from Base Power, which can also sell excess power back to the grid. The company is constructing its first factory near Austin and plans to build a second facility to support its expansion beyond Texas, taking advantage of the state's deregulated utility market.