<\/p>\n
If you\u2019re a renter<\/span> and you want solar power, you\u2019re usually out of luck. For most, the only option is a community solar program, where people subscribe to utility-scale projects, but they\u2019re not available everywhere. And given that most renters only stay for a few years, which of them are going to pay tens of thousands of dollars for solar panels \u2014 and what landlord would let them?<\/p>\n That\u2019s where PearlX comes in. \u201cThink of us as like the Sunrun for renters,\u201d said co-founder and CEO Michael Huerta, referring to the company that rents solar installations to single-family homeowners. \u201cPearlX is a rental electrification platform.\u201d<\/p>\n Earlier this year, the startup began installing solar panels and backup batteries at multifamily rentals in Texas as part of its \u201cTexFlex\u201d project. PearlX\u2019s next step, which Huerta shared exclusively with , will be a California expansion called \u201cFlexifornia.\u201d The startup is also rolling out a virtual power plant, which will allow the company to tap the batteries in times of high electricity demand to help lower tenants\u2019 utility bills.<\/p>\n PearlX\u2019s expansion plans are being fueled by a $70 million Series B that values the company at $115 million. The round was led by Swiss asset manager Lombard Odier. The company has raised just under $5 million in previous rounds, Huerta said.<\/p>\n \u201cThis round is really focused on two things,\u201d he said. First is addressing the company\u2019s backlog. \u201cWe\u2019ve got landlords with about a couple thousand tenants that are ready to go and super excited.\u201d A handful of projects are complete and about a third of the backlog is at various points in the construction process. The company has also earmarked some money for the California expansion.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" If you\u2019re a renter and you want solar power, you\u2019re usually out of luck. For most, the only option is a community solar program, where people subscribe to utility-scale projects, but they\u2019re not available everywhere. And given that most renters only stay for a few years, which of them are going to pay tens of […]<\/p>\n","protected":false},"author":1,"featured_media":1204512,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"class_list":["post-1204511","post","type-post","status-publish","format-standard","has-post-thumbnail","category-celebrity-gossip"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1204511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1204511"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1204511\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1204511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1204511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1204511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}