PearlX announced its first large-scale solar and storage installation since Antin Infrastructure Partners invested in a majority stake of the company in February.
The large-scale installation is for High Desert Villas, a 232-unit senior community in Victorville, California, with over 700 kW of solar power installed on the property’s rooftops, and 314 kWh of paired battery storage. PearlX’s uses a community solar + storage and financing model that benefits all stakeholders. Property owner Strata Equity Group receives increased cash flows through lease payments from PearlX. Residents who subscribe receive access to clean energy, savings on their utility bills and resilient back-up power to mitigate the impact of grid outages. On average, residents will have roughly 65% of their annual electricity consumption served by the installation. The local utility, SCE, also benefits by leveraging the excess power to help stabilize the grid during peak demand response events.
Already delivering power to residents today, High Desert Villas marks one of the first distributed generation installations in Southern California Edison (SCE)’s utility territory to provide renters behind-the-meter storage paired with solar. PearlX aim to serve over 25,000 California apartment renters by 2025.
“It was great working with PearlX. They were very accommodating during the whole process, explaining everything in detail and answering all of our questions,” said Jeffrey Chan, senior asset manager at Strata Equity Group. “We’re excited the solar installation is now operational and not only providing clean energy to our community, but delivering energy bill savings to our residents.”
News item from PearlX
