"Tesla Inc.'s former energy chief has secured more than $230 million to expand his battery startup into new markets. It's the latest sign that the multibillion-dollar US home energy storage market is heating up as strain on the grid increases. California-based Lunar Energy develops software that helps optimize home batteries to charge when electricity is cheap and send stored energy back to the grid when demand is high."
"The new funding includes a $102 million Series D round led by B Capital and Prelude Ventures, as well as a previously unannounced $130 million Series C round. Lunar will use it to expand battery sales in new markets, such as Texas, Puerto Rico and Hawaii. Girotra said his startup is close to being valued at $1 billion, though he declined to provide specific details."
"The US added nearly 4.9 gigawatt-hours of home energy storage in 2025, up almost 60% from the prior year, according to an estimate by BloombergNEF. That can help homes keep the lights on during extreme weather and help utilities improve grid management while avoiding firing up so-called natural gas peaker plants during periods of high demand. But the installation surge last year was spurred in part by homeowners rushing to buy batteries before tax credits for individuals expired on Dec. 31st,"
Kunal Girotra, a former Tesla energy chief, founded Lunar Energy about six years ago and has grown the firm to roughly 2,000 California installations. The company develops software to optimize home batteries to charge when electricity is cheap and discharge to the grid during peak demand, and began deploying its own batteries through distributors last year. Lunar raised more than $230 million including a $102 million Series D and a previously unannounced $130 million Series C to expand into Texas, Puerto Rico and Hawaii. The firm plans to scale production toward 100,000 units annually and is near a $1 billion valuation. Tax credits for leased residential batteries remain available through 2027, supporting Lunar's growth prospects amid a 2025 surge in US home storage deployment.
Read at www.mercurynews.com
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