In an era marked by climate change and extreme weather, homeowners are increasingly turning to backup batteries for energy reliability, but these solutions are temporary. A larger issue is the aging power grid. This is where virtual power plants (VPPs) come into play, facilitated by cloud-based systems. Companies are now tapping into this growing market as consumers seek more dependable energy options.
Base Power, based in Austin, Texas, operates as a VPP and battery subscription service for homeowners. Unlike competitors like Tesla and Enphase that sell batteries, Base rents them, providing all necessary hardware, software, installation, and maintenance. The company’s CEO, Zach Dell, explains that they install batteries in homes, using them to support the grid when functioning, and providing backup during outages. Homeowners can save approximately 10-20% on electricity bills as a result.
Base optimizes battery use by charging during low-demand periods and discharging during peak times, thus serving both consumers and the power grid. For an initial fee of $595 and a monthly charge of about $19, homeowners gain access to this system. About half of their users have solar panels, further reducing costs and allowing them to sell excess power back to Base at favorable rates.
Base has secured partnerships with prominent entities like Lennar, one of the largest homebuilders, to incorporate their batteries into new homes in areas prone to outages. With a funding total of $268 million from notable investors, Base aims to expand beyond Texas, despite facing challenges like tariffs on battery components manufactured in China.
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