Multifamily housing has missed the solar boom. PearlX wants to fix that with $70M Series B
Summary
For most, the only option is a community solar program, where people subscribe to utility-scale projects, but theyre 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 and what landlord would let them?Thats where PearlX comes in. Think of us as like the Sunrun for renters, said co-founder and CEO Michael Huerta, referring to the company that rents solar installations to single-family homeowners. PearlXs next step, which Huerta shared exclusively with TechCrunch, will be a California expansion called Flexifornia. 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 utility bills.PearlXs expansion plans are being fueled by a Series B of up to $70 million that values the company at $115 million.