A solar system atop an apartment complex that allows tenants to subscribe to the power generated on-site recently completed its first 18 months in service, and the groups involved have shared the results.
Project TexFlex, an initiative from PearlX Infrastructure and supported by SolarEdge equipment, was launched at the 2410 Waugh Apartments in Houston in 2022 and provides subscribing tenants (including those in the low-to-middle income bracket) with access to clean energy and backup power from an on-site solar and battery storage system.
Initial results from Waugh Apartments reveal that the on-site solar and storage solution supplied 46% of participating tenant’s daily energy consumption in its first 18 months. This reduced grid demand for local grid operator ERCOT from 342 kWh/day to 184 kWh/day. This equated to an average saving of $60 per tenant per month from metered energy bills. Additionally, during two grid outages lasting a total of 10 hours, tenants continued to receive power thanks to the DC-coupled solar + storage solution.
“Project TexFlex is a perfect example of our dedication to providing affordable, clean energy solutions to tenants in multi-family apartments,” said Michael Huerta, PearlX Co-founder and CEO. “The results from Waugh Apartments, where residents are experiencing significant energy cost reductions and improved grid stability, exemplify the positive impact on-site solar and storage can provide. Following the pilot’s success, we have been aggressively scaling up installation projects across Texas and California.”
A key differentiator in this project is PearlX’s underwriting approach, which removes the pre-existing barriers for lower-to-middle income tenants to have access to solar and storage. It does this by utilizing 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.
“The success of the Project TexFlex emphasises the important role that new developments in solar and storage technology have in maximizing the value to all the business stakeholders,” said Peter Mathews, General Manager of SolarEdge North America. “Combining a DC-optimized inverter with a DC-coupled battery optimizes every drop of energy, generating more savings and longer backup for renters. For grid operators like ERCOT, these programs provide greater control of an untapped pool of energy to increase grid resiliency in Texas.”
News item from SolarEdge
