Providers Team To Offer Community Solar & Storage To Multi-Family Properties In Texas
January 14, 2022 Email This Story Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • email@example.com
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Flexible energy provider PearlX Infrastructure LLC (PearlX) and SolarEdge Technologies, Inc. announced that they are collaborating on a series of what they termed "first-in-kind" residential clean energy projects for renters throughout Texas.
"Dubbed 'Project TexFlex', the program deploys innovative community solar & storage virtual power plants (VPPs), enabling communities in the region to empower tenants with cost-effective and resilient clean energy," the companies said
Project TexFlex will launch its initial VPP at 2410 Waugh Apartments in the Montrose neighborhood of Houston in the first quarter of 2022.
Among other benefits, the companies said tenants may participate in demand response events or time-of-use arbitrage programs, where excess solar is diverted to help support the grid.
"[E]ach VPP provides load-serving and resiliency benefits to consumers, royalty and income streams for its multi-family real estate partners, and flexibility and capacity services to the Texas energy market," the companies said
Based on a signed agreement with Moonlight Interests, LLC, developer of 2410 Waugh Apartments, PearlX will scale Project TexFlex throughout the multi-family real estate market in Texas.
As owner and operator of the project, PearlX will purchase hardware and cloud-based grid services technology from SolarEdge, while SolarEdge will also provide design and engineering support.
Following Texas, the project will continue in California and several other US states later in the year.
"With a mission to expand clean energy access and reduce energy poverty, PearlX's novel underwriting approach will enable multi-family real estate communities engaged in the project to empower lower and middle-income tenants with cost-effective, flexible and resilient community solar & storage. PearlX utilizes a 'non-credit' based underwriting method, which allows tenant subscribers who live within TexFlex properties to access the rewards of solar generation and battery storage without the obligation to present an industry-defined adequate credit score," PearlX said
"Mainstream solar and especially storage has traditionally been an amenity for the wealthy. If you don't have good credit, you don't have access," said Michael Huerta, CEO of PearlX. "Credit is the ability to repay. Electricity is the ability to live. Payment for electricity we believe is the highest form of credit." Huerta added, "When you look at the data, electric bills are paid before rent, cell phone bills, even car payments."
PearlX awarded an EPC contract to Austin based Native Solar to design and construct Project TexFlex. The project is under construction and will be interconnecting through an agreement with CenterPoint Energy Houston Electric in the first quarter of 2022.