PearlX Solar Powers Up Multi-Family Homes in CA
- PearlX is making a lasting impact in Central California - providing 800 apartment residents with discounted power and increased cash flows for building owners via lease payments. With the CPUC's Virtual Net Metering program, California residents can enjoy clean, renewable energy at no upfront cost. Join PearlX as they strive to reach their goal of 25,000 apartment renters by 2025.
PearlX has begun construction on two large-scale rooftop solar installations in Central California. The systems, located at Bordeaux Apartments in Atascadero and Dry Creek Apartments in Paso Robles, will provide 800 residents with access to discounted power at no upfront cost. Additionally, building owners Vandenberghe Properties will benefit from increased cash flows via lease payments from PearlX. Through its Virtual Net Metering program, California Public Utilities Commission (CPUC) allows the solar generation at the community to be credited to the resident’s utility accounts. PearlX's goal is to deliver clean energy to more than 25,000 apartment renters in California by 2025 through a $100 million investment from Antin Capital Partners.
How Will PearlX's $100M Investment in Rooftop Solar Benefit California Residents?
- PearlX's $100M investment will provide discounted power to 800 residents in Central California with no upfront cost.
- Building owners Vandenberghe Properties will benefit from increased cash flows via lease payments from PearlX.
- PearlX is taking advantage of California Public Utilities Commission's Virtual Net Metering program, which allows solar generation at the community to be credited to the resident’s utility accounts.
- PearlX's long-term goal is to provide clean energy to 25,000 apartment renters in California by 2025.
- California residents will benefit from lower energy bills and be able to access renewable energy more easily.
- The two solar installations will also reduce California’s carbon emissions, resulting in improved air quality.
