PearlX and SolarEdge behind new community solar and storage virtual power plants to bring energy equality to tenants in Texas

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– “Project TexFlex” to launch the first virtual power plant at 2410 Waugh Apartments in Houston’s Montrose neighborhood in the first quarter of 2022, with multiple additional installations in Texas, California and other US states throughout 2022 .

– Participating subscriber tenants will have access to on-site solar power + storage, providing them with a clean, low-cost source of energy and the ability to mitigate the impact of outages with grid-independent backup power.

– Leveraging on-site power supply pooled by tenants, local utilities will purchase excess solar power generated to support and stabilize the grid during peak demand – allowing tenants to realize even greater savings .

– PearlX’s new approach to project underwriting will allow more low- and middle-income tenants to access community solar power and storage by overcoming previous credit barriers.

HOUSTON, January 13, 2022 /PRNewswire/ — Flexible energy provider, PearlX Infrastructure LLC (PearlX), and global smart energy technology leader, SolarEdge Technologies, Inc. (SolarEdge), are collaborating on a series of first residential clean energy projects to tenants throughout Texas. Dubbed “Project TexFlex,” the program deploys innovative community solar and storage Virtual Power Plants (VPPs), enabling communities across the region to offer tenants cost-effective and resilient clean energy.

Subscribed tenants will be able to reduce their energy bills with low-cost solar power, as well as access on-site storage capacity to maintain power during a power outage.

Project TexFlex will launch its first VPP at 2410 Waugh Apartments in the montrose neighborhood Houston in the first quarter of 2022. Described by PearlX as a “win-win-win,” each VPP offers charging and resiliency service benefits for consumers, royalties and revenue streams for its multifamily real estate partners, as well as services flexibility and ability to Texas power market – enabling utilities to intelligently harness and control a previously untapped pool of available distributed power resources to support grid stabilization.

Based on an agreement signed with Moonlight Interests, LLC, developer of 2410 Waugh Apartments, PearlX will expand the TexFlex project across the entire multifamily real estate market in Texas. As owner and operator of the project, PearlX will purchase state-of-the-art cloud-based network services hardware and technology from SolarEdge, while SolarEdge will also provide design and engineering support.

One-of-a-kind initiative to increase solar power accessibility for Texans

With a mission to expand access to clean energy and reduce energy poverty, PearlX’s new underwriting approach will enable multi-family real estate communities engaged in the project to empower low- and middle-income tenants with energy cost-effective, flexible and resilient community solar and storage. PearlX uses a “credit-free” subscription method, which allows subscribing tenants who live in TexFlex properties to access the benefits of solar generation and battery storage without the requirement to present an adequate credit rating as defined by the ‘industry.

“Traditional solar and especially storage has always been a convenience for the wealthy. If you don’t have good credit, you don’t have access to it,” said Michael Huerta, CEO of PearlX. “Credit is the ability to repay. Electricity is the ability to live. Paying for electricity is, in our view, the highest form of credit.” Huerta added, “When you look at the data, electricity bills are paid before rent, cell phone bills and even car payments.”

How the TexFlex project works

The TexFlex project has the ability to reduce grid stresses and outages, while increasing energy resiliency across the state. Power generation is increasingly distributed, but generation still needs to be centrally controlled for grid stabilization. VPPs make this possible by enabling real-time, cloud-based, aggregate control, management, and reporting of a pool of distributed energy resources.

This is particularly critical and valuable in the wake of the “Big Freeze” of February 2021, which put enormous strain on the networks and caused massive power outages. Using on-site solar power, the program will facilitate the delivery of power to the grid in near real time. Utilities have access to stored energy when grid stabilization is needed or when there is a power shortage.

For participating tenants, beyond access to low-cost solar energy to reduce their own carbon footprint and electricity bills, they will also gain the resilience of the on-site grid to help power their homes during storms. blackouts, and can simultaneously further reduce energy costs by participating in demand/response events or time-of-use arbitrage programs, where excess solar power is diverted to help support the grid.

With the award-winning SolarEdge energy hub inverter and new power bank battery, PearlX will deploy energy storage as both a grid asset and a community storage asset. SolarEdge’s advanced software for grid services also allows VPPs behind the meter to receive and respond to onsite and grid-level signals.

“Advances in solar and storage technologies are key enablers helping to drive the new democratic and distributed energy economy in North America.” noted Pierre Mathews, CEO of SolarEdge, North America. “Software developments provide the grid with much-needed control to optimize the use of solar power for different communities. This makes solar power more available and flexible, so even tenants can benefit from renewable energy.”

By launching this project, PearlX and SolarEdge are creating a widely replicable and decentralized model that will facilitate Texas’ accelerate the energy transition, while offering guarantees against grid failures. At the same time, energy consumers across the state will experience more cost-effective and reliable energy benefits.

PearlX has awarded an EPC contract to Austin Native Solar to design and build the TexFlex project. The project is under construction and will be interconnected via an agreement with CenterPoint Energy in the first quarter of 2022. After Texas, the project will continue in California and several other US states later in the year.

About PearlX

Founded in 2019, PearlX is committed to increasing energy equality in multi-family communities through on-site community solar power and storage. PearlX provides energy resilience and independence for subscribers, as well as long-term royalties and revenue streams for its partners and shareholders. The company is led by a world-class team of industry-leading infrastructure and energy technology veterans who are driven to sell the most flexible and reliable electron with the highest energy margins. . Learn more about: https://www.pearlx.com/.

Solar + on-site storage available to subscribed tenants at 2410 Waugh Apartments in the Montrose neighborhood of Houston, Texas

Solar + on-site storage available to subscribed tenants at 2410 Waugh Apartments in the Montrose neighborhood of Houston, Texas

SolarEdge's award-winning Energy Hub inverter and new power bank battery

SolarEdge’s Award-Winning Power Concentrator Inverter and New Power Bank Battery

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SOURCE Pearlx Infrastructure


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