Multi-family apartments in Houston reduce energy consumption by 46% through innovative solar and storage initiative “Project TexFlex”

• Rare initiative puts rooftop solar and battery storage on U.S. multi-family apartment blocks to provide renters of different incomes access to affordable clean energy and home back-up power.

• The results of the first pilot in Montrose, Houston showed that over the first 18 months, participating renters reduced their metered energy bills by $60 a month on average and retained power during two grid outages totalling 10 hours via the on-site batteries.

• Advanced DC-coupled solar + storage solution comprising SolarEdge Home Hub inverters and SolarEdge Home batteries used to maximize energy production and backup duration time for tenants.

Houston, Texas – February 16, 2024 – SolarEdge Technologies, Inc., a global leader in smart energy technology and flexible energy provider PearlX Infrastructure LLC, today announced the successful results of the first stage of ‘Project TexFlex’. 

Project TexFlex is an innovative initiative from PearlX that provides renters in Texas of all income levels access to clean energy and home backup, while enabling utilities to leverage excess power to help stabilize the grid when needed. This venture was launched at 2410 Waugh Apartments in Houston's Montrose neighborhood in 2022. Embraced by tenants, landlords and local utilities, PearlX is now rapidly scaling-up its multi-family solar and storage model across Texas and California with tens of new installations already in construction.

Project TexFlex provides subscribing tenants (including those in the low-to-middle income bracket) with access to low-cost clean energy and backup power for more grid independence by providing on-site solar and battery storage on their apartment rooftops. As the solar and battery storage asset owner/operator, PearlX leases the rooftop space from multi-family real estate partners who earn royalties and new income streams. While local utilities can leverage an untapped pool of energy produced on-site to support grid stabilization during times of peak demand, bringing more flexibility and capacity services to the Texas energy market.

A Resounding Success in Montrose

Initial results from Waugh Apartments in Montrose, Houston, reveal that over the first 18 months the on-site solar and storage solution supplied 46% of participating tenant’s daily energy consumption, reducing grid demand for local utility 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 ten hours, tenants continued to receive power thanks to the advanced DC-coupled solar + storage solution deployed on the rooftop. The combination of SolarEdge Home Hub inverters and SolarEdge Home DC-coupled batteries maximizes energy production for tenants, while delivering industry-leading battery efficiency for longer duration backup.

The results of the first stage of Project TexFlex have been welcomed by all parties involved:  the tenants, the building owner, and the grid operator ERCOT. This increased energy independence benefits the residents financially and offers more grid resiliency, supporting clean energy efforts and boosting tenant satisfaction. The building owner, Harvest Moon Development Company, has gained an additional revenue stream by renting its ‘energy estate’ to PearlX, as well as now having on-site rooftop solar and storage to offer as an additional amenity to tenants. Meanwhile, relief is provided to ERCOT by alleviating the strain on the grid in a densely populated area and supporting grid stabilization during demand response events.

Michael Huerta, PearlX Co-founder and CEO, comments: "Project TexFlex is a perfect example of our dedication to providing affordable, clean energy solutions to tenants in multi-family apartments. 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, and on course for our mission to democratize clean energy across the United States by the end of the decade.”

A key differentiator in this project is PearlX's novel 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.

Peter Mathews, General Manager of SolarEdge North America, concludes: “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. Combining a DC-optimized inverter with a DC-coupled battery optimizes every drop of energy, generating more savings and longer backup for renters. For utilities like ERCOT, these programs provide greater control of an untapped pool of energy to increase grid resiliency in Texas.”