Installing solar isn’t the only big financial decision to make about controlling home power
A customer inspects a Tesla Motors Inc. Powerwall unit inside a home.
Ian Thomas Jansen-Lonnquist | Bloomberg | Getty Images
After a summer of extreme weather and wildfires and now during the peak of hurricane season, the power going out again is becoming familiar to more Americans. That means it may be a good time to consider a home backup power storage system.
The pervasiveness of extreme weather and climate change, local utility reliability and cost may all factor into this financial decision.
“Backup power may be warranted depending on regional factors and geography as well as the state of the infrastructure there,” said Benjamin R. Dierker, executive director of the Alliance for Innovation and Infrastructure, a research and educational organization, in an email.
In coastal areas, for instance, considerations include the resilience of storm or sea walls, the quality and capacity of drainage infrastructure and the electrical grid’s hardiness, he said. In other areas, extreme weather conditions like high winds, tornados and ice may cause falling trees or downed lines — a risk that’s significantly mitigated if there are buried utility lines rather than overhead lines, Dierker said. Pre-emptive shutdowns, due to extreme weather or other factors, can also be a consideration.
As of Sept. 11, there have been 23 confirmed weather/climate disaster events with losses exceeding $1 billion each to affect United States, according to the National Centers for Environmental Information, which has a graphic that shows the locations of these disasters. These events included two flooding events, 18 severe storm events, one tropical cyclone event, one wildfire event, and one winter storm event.
Here’s what consumers need to consider about home back-up power options:
Appliance needs during power outages
A good first step is to think about the most important appliances you are running on electricity and how long you might realistically need them to run in the event of an outage, said Vikram Aggarwal, chief executive and founder of EnergySage, which helps consumers compare clean home energy solutions.
If you have minimal backup needs, a small portable fossil-fuel generator or battery could suffice, which can cost a few hundred dollars. But if you want your home to operate as normal, you’ll want to consider whole home options.
Location can be a factor since in some areas, the power goes out infrequently or for only short periods of time. In some states like California, Texas and Louisiana, however, it can be a whole different ball game. California consumers, for example, can get an up-to-date sense of outages in their area to get a sense of what their risk may be.
Fossil fuel vs. battery power
If you’re not opposed to fossil fuel-powered options, there are several categories to consider based on your power needs. For lower power needs, a portable generator, which often runs on gasoline or diesel can cost a few hundred dollars to several thousand dollars. There are also higher-priced portable versions that are usually quieter and more fuel-efficient and may be able to power multiple large appliances—and for longer. How long depends in part on the appliances you’re powering.
A whole home standby generator, meanwhile, is permanently installed and automatically kicks on when the power goes out. This generator type is often fueled by propane or natural gas and costs vary based on size, brand and fuel type. There are options in the $3,000 to $5,000 range, but with installation the total can be considerably higher. This could be a good option if you’re expecting outages for multiple days; theoretically, the generator can run for as long as fuel is supplied, but it can be advisable to shut it down for engine-cooling purposes.
For the environmentally-inclined, battery-powered backups can be a good option for their more environmentally friendly and quieter nature. For a few hundred dollars, give or take, there are lower-priced smaller to mid-size battery options that people can purchase and that will last for several hours.
There are also battery-powered options to back up the whole home that offer many of the same functions as conventional generators, but without the need for refueling, according to EnergySage. Consumers might expect to pay $10,000 to $20,000 to install a home battery backup system, EnergySage said. This can often last for eight to 12 hours, or even longer if you aren’t using it to power items such as air conditioning or electric heat.
Incentives that lower the cost of purchase and installation
When thinking about what type of backup to choose, incentives can factor into the equation. Thanks to the Inflation Reduction Act, households can receive a 30% tax credit for a battery storage installation, even if it’s not paired with a solar system, Aggarwal said.
Other state and local incentives may also be available. For instance, in some markets like California, Vermont, Massachusetts and New York, utilities pay consumers to tap into their batteries during peak periods like the summer, Aggarwal said. Consumers with larger batteries—10kWh or more—may be able to earn hundreds of dollars a year, he said.
EVs as a backup power option for the home
Some electrical vehicles can be used to back up essential items, or, in some cases, a whole home.
Ford’s F-150 Lightning, for example, can power a home for three days, or up to 10 days under certain circumstances, according to the company. With the required system installed, and the truck plugged in, stored power is transferred seamlessly to the home in the case of a power outage. For its part, GM recently said it would expand its vehicle-to-home bidirectional charging technology to its entire lineup of Ultium-based electric vehicles by model year 2026.
In the past, Jim Farley, Ford CEO has spoken about how the F-150 Lightning’s abilities as a source of backup power for homes and job sites have been a real “eye-opener” for the automaker.
“If you’re contemplating spending $10,000 on a whole home gas generator system, why not think about an EV with this capability instead?” said Stephen Pantano, head of market transformation at Rewiring America, a nonprofit focused on electrifying homes, businesses and communities.
Consumers in the market for a new stove might also consider an induction model with an integrated battery to power it or other items such a fridge on an as-needed basis, Pantano said. “This opens up new possibilities for power backups that weren’t there before.”
Solar-plus-storage can lead to long-term savings
Home solar panels are becoming more popular, but most are connected to the grid, and you need some kind of battery storage in order to have backup power, said Sarah Delisle, vice president of government affairs and communications for Swell Energy, a home energy solutions provider.
That’s where a solar-plus-storage system can come in handy. It allows people to use electricity generated from their solar panels during the day at a later point, which can be particularly useful for people who live in areas where there are frequent power outages, said Ted Tiffany, senior technical lead at the Building Decarbonization Coalition, a group that promotes moving buildings off fossil fuels.
A solar-plus-storage system costs about $25,000 to $35,000, depending on the size of the battery and other factors, according to the U.S. Dept of Energy. It’s easier and more cost-effective to install panels and the battery at the same time, but it’s not required. Homeowners who have already installed solar panels and want to add storage, might expect to pay between $12,000 to $22,000 for a battery, according to the Energy Department. Consumers who purchase a battery on its own or with backup are eligible for federal tax credits. Some states provide additional solar battery incentives.
Also consider the long-term savings potential, Tiffany said. He has a family member who, with electrical upgrades, spent around $8,000 on a fossil fuel-powered whole home generator. Putting that money into solar instead might have been more economical because of the energy savings over time and tax incentives, he said.
Consumers can visit EnergySage to find contractors and get information about solar and incentives. They can also visit, Switch is On, which helps consumers find information on electrification and efficiency measures for home appliances that supports the renewable energy integration.
Environment
Trump’s crypto-frenzied inauguration weekend makes first family billions of dollars richer
Snoop Dogg was the lead act at the first-ever Crypto Inaugural Ball held in Washington on Friday evening
MacKenzie Sigalos
As the crypto industry celebrates the arrival of a new administration in Washington, D.C., nobody is taking quicker advantage of the coming changes than the person leading the charge: President Donald J. Trump.
On Friday night, crypto A-listers rubbed elbows with political elites and members of Trump’s inner circle at the Crypto Ball, held at the opulent Mellon Auditorium, just down the street from the White House.
Meanwhile, Trump’s net worth was about to explode from an asset that, up to that point, didn’t exist. The same night of the party, the incoming president launched $TRUMP, a meme coin built on the Solana platform. Its market cap over the weekend climbed past $14 billion. Like with other meme coins, there’s no underlying product. Trump told his followers in a social media post, “It’s time to celebrate everything we stand for: WINNING!”
The website for $TRUMP says 80% of the coins are held by the Trump Organization and affiliates.
Inside the Crypto Ball were some of the leaders of the platforms allowing ordinary investors to buy into Trump’s newest project. They included Coinbase CEO Brian Armstrong and Kraken co-founder Jesse Powell.
Trump wasn’t done after one token.
On Sunday came the introduction of $MELANIA, named after the first lady. The coin quickly spiked more than 40%, surpassing $2 billion in value. Both the Trump and Melania coins have dropped significantly from their highs.
Then there’s World Liberty Financial, a decentralized finance project endorsed by the Trump family, which hiked its token price from 1.5 cents to 5 cents and released an additional 5 billion tokens for sale. The project, initially launched in September, has raised more than $300 million in total sales so far, according to blockchain firm Arkham Intelligence.
The Trump family gets 75% of World Liberty’s crypto coin revenue, according to the project’s founding document. On-chain data shows millions of dollars worth of token transfers to Coinbase’s institutional custody provider.
“We’re making routine movements of our crypto holdings as part of regular treasury management, payment of fees and expenses, and to address working capital requirements,” World Liberty said in a statement.
CNBC reached out to Donald and Melania Trump earlier Monday and didn’t receive a response.
‘Reign of terror’
In the period of 48 hours, the Trump family’s net worth surged by billions of dollars, based on holdings of its just-launched digital assets, underscoring the unregulated nature of cryptocurrencies and the president’s ability to use his fame, power and newfound partnership with the nascent industry to enrich himself, his family and his allies at the flip of a switch.
Broader market enthusiasm has been expressed in the price of bitcoin, which surged to an all-time high hours before the inauguration to nearly $110,000. Crypto industry leaders and investors emerged as some of Trump’s biggest supporters in the campaign in an effort to influence future policies and to ease the restrictive regulations imposed during the Biden administration. In July, Trump delivered the keynote at the Bitcoin Conference in Nashville, Tennessee.
Digital asset entrepreneurs, politicians, and members of Trump’s inner circle hit the red carpet at the first-ever Crypto Inaugural Ball in Washington on Friday.
MacKenzie Sigalos
“The reign of terror against crypto is over,” David Sacks, a prominent Silicon Valley investor and the new White House AI and crypto czar, told the packed D.C. ballroom on Friday night. His comments were met with applause that echoed beneath the Mellon Auditorium’s soaring columns.
Sacks, an earlier Trump critic who said the events of Jan. 6, 2021, had “disqualified” him from being a candidate at the national level, threw his weight behind Trump last year. He hosted a high-profile fundraiser at his San Francisco mansion in June and regularly promoted the Republican candidate on the popular “All-In” podcast.
“The beginning of innovation in America for crypto has just begun,” Sacks added on Friday.
On X, formerly Twitter, conversations were lighting up about the new $TRUMP coin. There was plenty of skepticism from those in and around the industry.
“Trump needs to fire his crypto advisors, from top to bottom and replace with people who know what they are doing,” wrote Gabor Gurbacs, founder of digital asset firm Pointsville, in a post on X. “The memecoins cost the US, the presidency and his family a lot of credibility and the consequences haven’t even started.”
Mark Cuban, the billionaire former tech entrepreneur and part owner of the Dallas Mavericks, commented on the apparent lawlessness of it all. Cuban, a longtime independent who became a vocal supporter of Democratic nominee Kamala Harris, said the coins are particularly harmful to the crypto industry in its effort to prove its legitimacy.
“Hello every scam targeted at everyone and anyone who has no clue about crypto,” he wrote.
But at the pre-inauguration party, Trump’s new coin wasn’t much of a topic. Rather, the chatter centered on the broader implications of Trump’s policies, which promised to dismantle years of regulatory gridlock in the Biden administration.
“Two years ago, everyone thought crypto was dead,” said one attendee who asked not to be named in order to speak candidly on the topic. “A year ago, we were begging for help, and this weekend, we’re on top of the world.”
Crypto firms made substantial contributions to Trump’s inaugural fund, signaling their enthusiasm. Ripple donated $5 million in digital tokens, while Coinbase, Kraken, and Circle each gave $1 million. Online brokerage Robinhood contributed $2 million.
Inside the first-ever Crypto Ball at the Mellon Auditorium in Washington ahead of the Donald Trump Inauguration.
MacKenzie Sigalos
Coinbase and Kraken have both been battling the SEC in court. Robinhood received a Wells Notice in May related to its U.S. crypto business, which is typically one of the final steps before the SEC issues formal charges. Ripple has been in a years-long legal fight with SEC and outgoing Chairman Gary Gensler.
“The question now is, what do we do with this momentum?” said Ripple Chief Legal Officer Stuart Alderoty, who attended the Friday night festivities. “How do we take that momentum and move forward to really create the promise that I think this new administration has of making the U.S. the crypto capital of the world?”
Alderoty wants to see a coalition formed to discuss unified policy priorities.
“Ultimately, Congress will own the policy, and we can’t dictate to Congress what the policy should be,” Alderoty said. “It would be great if, ahead of that, in the face of the most crypto-friendly Congress we’ve ever had, there could be some alignment on what the priorities are,” Alderoty said, noting that the industry has splintered in the past when proposals have been introduced.
Inside the Crypto Ball
There was a hefty dose of lawmaker support at the party, all from the Republican side of the aisle. House Speaker Mike Johnson was there, along with Senators Marsha Blackburn, Ted Cruz and Cynthia Lummis. Former House members French Hill and Patrick McHenry arrived to show their support.
Cleanspark CEO Zach Bradford, who has been meeting with Trump in private roundtables to discuss bitcoin mining, said he spoke with Howard Lutnick, Trump’s pick to be Secretary of Commerce, at the event.
“We talked about bitcoin mining and how bitcoin, but also bitcoin mining, can be a central point of commerce,” Bradford told CNBC.
Bradford said he emphasized to Lutnick the potential for bitcoin mining to be a significant economic driver.
“It’s a positive revenue generator from a net production perspective,” Bradford said. “But we’re also contributing significant tax revenues for the states where we operate.”
Bradford said Lutnick is “excited about it,” describing him as “somebody that gets bitcoin.”
Scott Bessent, likely to be the next Treasury secretary, made his way through the main floor of the ballroom and took photos with attendees.
Koh Harada, COO of Aleo, a privacy-focused blockchain, said Bessent was “pretty coy about things, but the fact that he was even there was very interesting.”
Aleo, which has raised over $200 million from investors including SoftBank and Andreessen Horowitz, chose to establish in the U.S. while many rivals opted to launch from offshore jurisdictions like the Cayman Islands as a shield from various regulations.
“We didn’t set up shop in the U.S. on a whim,” Harada said. In talking to a mix of legal and compliance experts, the company realized that “America is the best fertilizer for tech — period,” he said.
Aleo, which combines privacy-focused functionality with smart contract capabilities, has become a go-to resource for other startups looking to return to the U.S., Harada added. The company picked Wyoming, a state known for its crypto-friendly policies.
“Wyoming stood out as the most welcoming state for crypto,” Harada said. “They’ve created forward-thinking policies and are even establishing blockchain research centers at the University of Wyoming.”
It was the side conversations in the MAGA Inc. VIP Reception greenroom where the most significant exchanges of the evening unfolded.
MacKenzie Sigalos
Also in attendance on Friday was MicroStrategy founder Michael Saylor, wearing his trademark orange bow tie, a nod to bitcoin’s iconic color. Ripple CEO Brad Garlinghouse and top execs at Coinbase, including global policy head Faryar Shirzad, mingled with guests.
The Winklevoss twins chatted in a group that included Chris Dixon of Andreessen Horowitz and his colleague, Sriram Krishnan, who recently left his role as a general partner at the firm to join Sacks’ task force. Bo Hines, Trump’s choice to lead the Presidential Council of Advisers for Digital Assets, was also present. He’ll report directly to Sacks.
While Snoop Dogg performed in the main ballroom, venture capitalist Katie Haun was engrossed in conversation with Galaxy Digital’s Mike Novogratz. Other musical guests Rick Ross and Soulja Boy, who was charged by the SEC in 2023 for illegally promoting a crypto token without disclosing he was paid, kept the larger crowd entertained.
Guests were issued wristbands based on status. Black wristbands signified general admission and gold allowed entry to a VIP balcony. White bands granted the most exclusive perks. General admission cost $2,500, and some sponsors paid $1 million for access to the greenroom on the ground floor tucked behind the stage in the main ballroom.
Tightly guarded by security, Donald Trump Jr. donned custom MAGA buttons on his shirt as he swiftly made his way into the innermost chamber of the VIP section, a room barricaded by a rotating bouncer and only allowing in certain guests. Along with Sacks, and Speaker Johnson, he could be seen conversing with Fred Thiel, CEO of mining company MARA Holdings.
Thiel shared details of a blockchain initiative his company had launched earlier that day with Johnson, an effort designed to symbolize the intersection of crypto and politics.
“We minted a block on the blockchain with a portrait of President Trump, created entirely from transactions,” Thiel said.
Speaker of the House, Mike Johnson, with Mara CEO Fred Thiel. Johnson seen texting President Donald Trump a photo of the Trump47 bitcoin block minted by Mara earlier that day.
Fred Thiel
The so-called Trump47 block embedded Trump’s headshot into the Bitcoin blockchain, creating a lasting digital tribute to the president.
“We released it Friday morning, and it went viral,” Thiel said. He added that Johnson “was so impressed” that he texted Trump a picture of it.
Tracy Hoyos-López, a former California prosecutor and one of the people credited with turning Trump pro-bitcoin, was also at the event.
“Don’t mess with crypto,” Hoyos-López, who helped to plan the evening’s celebration, told CNBC while Snoop Dogg was performing his live set. “Our event is a symbol of who we are in the world.”
WATCH: Bitcoin surges past $100,000
Environment
Hyundai launches new Creta Electric SUV in India, starting at just $20,000: Meet the new EV
Hyundai officially launched its newest electric vehicle, the Creta Electric, in India. It starts at just over $20,000 and has a range of nearly 300 miles. The Creta EV is Hyundai’s first electric SUV made in the country. Here’s a look at the new model.
Hyundai reveals Creta EV prices start at $20,000
Since it hit the market in 2015, the Hyundai Creta has been a massive success for the company in India. The SUV led Hyundai India to another record sales year, with 186,919 models sold in 2024.
Hyundai sold a record 605,433 vehicles in India last year, up from 602,111 in 2023. Including exports, Hyundai India sold 764,119 vehicles in 2024.
“Achieving highest ever domestic sales three years in a row, reflects customers’ preference for brand Hyundai as their trusted smart mobility solutions provider,” Hyundai India’s COO, Mr Tarun Garg, said earlier this month.
The Creta was the company’s main growth driver, accounting for over 30% of sales. With its highest yearly sales since launching, “CRETA continued to strengthen HMIL’s position as an SUV leader, helping HMIL accomplish its highest-ever domestic SUV contribution of 67.6% in CY 2024,” he added.
Now, Hyundai’s top-selling SUV in India is going electric. Earlier this month, Hyundai unveiled the electric SUV for the first time. On Friday, at the Bharat Mobility Global Expo, Hyundai launched the Creta EV, which starts at just Rs 17.99 Lakh, or just over $20,000.
It’s available in four trims: Executive, Smart, Premium, and Excellence. The most expensive Excellence trim starts at Rs 23.50 lakh, or about $27,200. In comparison, the gas-powered SUV starts at around $12,800 (Rs 10.99 LAkh).
Buyers can choose from two battery packs, 42 kWh and 51.4 kWh, offering a driving range of 390 km (242 miles) and 473 km (294 miles) in India.
Hyundai is confident that the Creta EV “will further expand the appeal of this Undisputed, Ultimate SUV,” Mr Tarun Garg said.
Hyundai plans to launch five new EVs in India by 2030, including the new Creta. To meet the growing demand in the region, it’s also planning to launch three-wheel electric cars.
Although Hyundai is not launching the Creta EV in the US, the company is introducing a series of new and upgraded electric models this year. The 2025 IONIQ 5 now features more driving range and comes with an NACS port for charging at Tesla Superchargers. Meanwhile, Hyundai’s first three-row electric SUV, the EV9, will arrive shortly.
Would you buy the Hyundai Creta EV for around $20,000? Let us know in the comments below.
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