A New Energy Storage Startup Challenges Tesla In US Market

The article discusses Lunar Energy, a new startup challenging Tesla in the U.S. residential energy storage market. Lunar recently raised $232 million in Series C and D funding rounds, led by Activate Capital, B Capital, and Prelude Ventures, with participation from investors including Sunrun, DCVC, and SK Group. Lunar’s AI-powered energy storage system learns individual household electricity consumption patterns to optimize solar energy use and reduce electricity costs. The company claims its customers save an average of $464 annually through virtual power plant programs, outperforming standard home battery savings of $338. Lunar’s CEO, Kunal Girotra, a former Tesla Energy team member, aims to scale the company’s model to help homes become active participants in a smarter, more resilient grid. Notably, Sunrun, a major solar installer and Tesla partner, is investing in Lunar Energy, signaling a potential shift in the residential energy storage landscape. Despite this investment, Sunrun maintained its collaboration with Tesla through a joint home energy plan launched in