PearlX provides turnkey solar and battery storage systems to multifamily property owners at no upfront cost, enabling them to generate additional revenue while enhancing energy efficiency. This solution allows residents to access clean energy at reduced rates, addressing the barriers of high installation costs and limited access to renewable energy for renters.
Funding
$75M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Multifamily property owners face challenges in meeting Environmental, Social, and Governance (ESG) goals while also seeking to increase Net Operating Income (NOI). Residents often lack access to renewable energy options due to the high upfront costs and logistical barriers of installing solar and battery storage in apartment buildings.
Solution
PearlX offers a turnkey solar and battery storage solution for multifamily properties, enabling owners to increase NOI and meet ESG goals without upfront capital expenditure. PearlX handles the entire process of installing and maintaining the system, utilizing unused space on the property. Residents benefit from access to on-site, carbon-free energy at a discounted rate, reducing their utility bills and carbon footprint. Multifamily owners receive monthly lease payments for the installed systems, creating a new revenue stream. PearlX's approach makes the transition to renewable energy financially beneficial for property owners and environmentally friendly for residents.
Target Audience
PearlX targets multifamily property owners looking to increase NOI and meet ESG goals, as well as residents seeking access to affordable, clean energy.
Features
- Turnkey solar and battery storage system installation and maintenance
- No upfront costs for multifamily property owners
- Monthly lease payments to property owners, increasing NOI
- Discounted clean energy access for residents
- Use of unused property space for system installation
- Assistance in meeting ESG goals